US home builders in recent months began walking away from their revolving credit facilities, choosing to rely instead on cash and other equivalents held on their balance sheets for short-term liquidity, according to a study by Fitch Ratings.
Builders snubbing short-term credit and voluntarily exiting their revolving credit lines indicates a general move toward conservative borrowing practices as the US banking and financial system continues to reel with loan-related losses.
A wide range of companies making the 2014 HW Fast50 suggests that — are you ready for this? — maybe things aren't as bad in the U.S. mortgage and housing markets as some breathless press might otherwise suggest. After all, our rankings this year include mortgage insurers, investors, loan servicers, technology specialists and dot-coms, home builders, real estate services companies, mortgage bankers and more..
Last October, HousingWire highlighted several correspondent lenders and gave a broad overview of where this division of mortgage finance was heading. We are happy to report that those lenders are still doing a robust set of business, although the road remains no less rocky. But as we said last year, at least there’s a road to begin with. Read More
As our business moves into a new era of low profitability, increased expenses, and intense regulatory scrutiny, virtually every mortgage executive needs to experiment with ways to increase productivity and CFPB compliance while reducing overall operating costs. Read More