It’s not clear whether syndicated credit agreements require 100% investor consent before adopting a new benchmark. The industry trade group suggests giving new loans the flexibility to change indexes without unanimous approval, but investor advocates are balking.
The gulf between those at the upper ends of the wealth ladder and lower-income Americans has worsened markedly since the financial crisis, despite the trillions of subsidies that taxpayers provide for housing.
The mortgage market is transforming at breakneck pace, with bank and nonbank mortgage lenders investing heavily in digitizing their process, improving the customer experience, and speeding time to close.
The cheapest housing markets aren't always the most affordable cities for first-time home buyers and existing homeowners. Here's a look at 12 cities with low home prices, but where other factors put a damper on purchasing power.