今天坏消息连连。。。
1. Bed Bath & Beyond 可能会申请破产
2. Ford 即将Lay off 3000名员工
3.
This smells like the start of the next 'credit crisis'...
Some mortgage lenders – the worst of them – are beginning to go broke. According to a report from financial news service Bloomberg on Friday...
The U.S. mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that's coming could be the worst since the housing bubble burst about 15 years ago.
Uh-oh.
It's true. In June, one of the first dominoes fell...
Mortgage lender First Guaranty – which originated $10.6 billion in mortgage loans in 2021 – filed for bankruptcy, after saying it laid off 80% of its employees and stopped making new loans.
(Yes, the irony of a company named First Guaranty being a Last Guaranty is not lost on us.)
The company is owned by the fixed-income giant Pacific Investment Management, best known as Pimco. It said in its bankruptcy filing that it has $473 million in debts. Most of that is owed to banks that provided funding for its residential mortgages, including Flagstar Bank and Customers Bank.
First Guaranty dealt in "non-qualified mortgages," or non-QMs. Non-QMs go to borrowers with erratic income, and they're different from the "qualified" mortgages that came into federal law after the financial crisis... and that have stricter eligibility requirements.
In July, another non-QM company, Sprout Mortgage, suddenly laid off hundreds of employees and closed its doors... The company is now being sued – by employees for three weeks of pay and other firms for defaulting on millions of dollars of home loan purchases.
4. 这会像多米诺骨牌一样波及零售行业，传统制造业，房地产，金融业等。。。