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OnlyMe

Moldy Loan Book?

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They say that big shocks come from left-field - is this left-field enough to discourage lenders from pouring every last penny into into the housing market in the US and reverse the tide of money into the land/housing sink-hole?

http://www.imakenews.com/pureaircontrols/e...4.cfm?x=b11,0,w

Financial institutions are falling victim to mold. It's not infecting their offices, it's destroying homes and businesses along the Gulf Coast region devastated by Hurricanes Katrina and Rita.

...

"As insurers proceeded to exclude terrorism coverage, they simultaneously built in mold exclusions, allowing them to avoid billions of dollars in claims on Katrina and Rita damages down the line," Perry said. "However, those in the lending community that rely on healthy real estate loans and the underlying collateral to do business did not respond quickly enough to avert the potentially massive consequences of mold damage caused by the Gulf Coast hurricanes."

The consequences could be dire for many mortgage lenders as well as the investors and underwriters in the secondary market.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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