Distance – the space between – defines our present in so many respects, but that’s not what will lead to success in any market. We have distance from each other, distance from our normal life of just days ago and distance from a future without COVID-19. But that distance has underscored the interconnection of people and markets and their actions like nothing has before. Sure, we knew we were all...
Joseph Cioffi was quoted in an Asset-Backed Alert article, "Court Solution Seen for Libor Issue."
Joseph Cioffi was quoted in the Structured Credit Investor article, “Long Road Ahead: Climate Change Management in US RMBS Slow to Appear.”
With political turmoil, mixed economic signals and some industry-wide changes afoot, unpredictability seems to be the hallmark of the RMBS market. Since unpredictability can make people more dependent on predictions and past experience, we’ve identified some of the key events of 2019 and where they might lead in 2020.
Originations and Issuances, by the Numbers New mortgage originations reached $474 billion in Q2 2019, up from $437 billion in Q2 2018 (an 8.5% increase), according to data from the Federal Reserve Bank of New York. Housing debt climbed to $9.41 trillion in Q2 2019, up from $9.00 trillion versus a year ago (an increase of 4.6%). Housing debt remains the leading source of consumer debt in the...
Joseph Cioffi contributed to a Blueshift Research report, “Subprime Loans Set to Grow in Personal and Mortgage But to Fall in Auto,” January 23, 2019.
Move over mortgages – there’s a new kind of real estate that could benefit from a new type of funding. As higher interest rates and rising prices are making affordable housing a challenge in many markets, cities can fight the problem with a small-scale solution – accessory dwelling units (ADUs).
