The speed and severity of the downturn in the housing market have dashed Wall Street's hopes for a "soft landing" in the industry, according to Mike Larson, a real estate specialist with Weiss Research's MoneyandMarkets.com.Mr. Larson, an analyst with the Jupiter, Fla.-based Weiss Research, said five consecutive months of decline in existing-home sales and a 13% drop over the past year have discredited the soft-landing forecasts. "We have just witnessed the first year-over-year drop in median home prices in 11 years -- and the second-worst such decline in 38 years of record-keeping," the analyst declared. "With the pile-up of new and existing unsold homes now the largest in history, the latest price decline could be just the first of many." Weiss can be found on the Web at http://www.moneyandmarkets.com.
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Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
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Developments like the downward swing in total jobs reported Friday, inflation and AI have made nonbank employment more complex and volatile this year.
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Single-family mortgages originated with new scores have been put into private securitizations but these typically have been submitted alongside classic FICOs.
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The collaboration comes after HUD issued several other updates earlier this year aimed at increasing affordability through loosened homebuilding policy.
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Southeast impairments run 150 bps above other regions and alt-doc loans are up 200+ bps since 2025, while DSCR and full-doc improve. Time to review overlays.
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Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
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