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Who Deserves a Little More Credit

first_img Credit Default loans mortgage Risk Urban Institute 2018-10-25 Radhika Ojha in Daily Dose, Featured, News, Origination Who Deserves a Little More Credit? The Housing Finance Policy Center with Urban Institute has released its Q2 2018 Housing Credit Availability Index (HCAI). The HCAI tracks the amount of mortgage credit available as well as the percentage of home purchase loans likely to go into default after missing payment for more than 90 days. The report released along with the index further distinguishes between the sources of the default risk: whether it stems from borrowers’ inability to pay or the products that service their loans.Overall, the HCAI indicates a decline to 5.7 percent from a peak in Q1 2018 of 5.9 percent, the highest the index has climbed since 2011. This small dip quarter over quarter is a consequence of a shift in the market’s composition: while the government channel saw a loss in market share, the portfolio channel grew, and because the government channel has looser lending standards, this has had consequences on the total amount of credit available.A higher HCAI signifies that lenders are willing to take on a greater risk of default and so also how easy it is to acquire a home loan. The credit available to homebuyers remains far tighter than it was prior to the housing bubble burst—at least half of what it was in pre-bubble years.But because the index also gauges risk from borrowers contrasted against risk from services, it reveals more than just how much credit is available. Because product risk remains negligible, the index indicates that if credit were made more readily available to homebuyers, the risk posed would be slight. Just compare the current total risk posed in the index, or 5.7 percent, with the pre-crisis standard: 12.5 percent from 2001 to 2003. The report makes a subtly compelling argument that the stress felt in the market today from a gauntlet of forces (including rising mortgage rates, affordability issues, and a general lack of supply) could find reasonable respite in an expansion of credit available to prospective homebuyers. This would cause a corresponding increase in default risk, but presumably said risk would remain far below, and outside the perimeters, of the percentages that preceded the crisis of 2008.The government channel today—which as mentioned above recently opened up its credit accordingly—represents the only segment of the market today servicing less-than-pristine borrowers.center_img October 25, 2018 591 Views Sharelast_img read more


Go back to the enewsletter MANATHAI Hotels Re

first_imgGo back to the e-newsletter >MANATHAI Hotels & Resorts is preparing to offer travellers more insight into Thailand when the latest in its unique collection of luxury boutique properties, MANATHAI Surin, Phuket opens on 1 November 2015.Located at the edge of Surin Beach on Phuket’s west coast, the 66-room boutique resort is only 30 minutes from Phuket International Airport.MANATHAI Surin Phuket will be the fourth property of the independent Thai hospitality group, the other 3 situated in Hua Hin, Khao Lak and Koh Samui, as the group makes good its promise of unveiling 4 resorts in its first year of operations following its launch at World Travel Market in London late last year.“We have moved ahead with purpose and remained true to our objectives of opening 4 resorts in 12 months, all in high-quality beachfront locations and offering a uniqueness by embracing Thai culture and values,” said MANATHAI Hotels & Resorts COO, Christoph Berger.“MANATHAI Surin Phuket complements our vision perfectly, especially in the elegance of its design that presents a refined and contemporary interpretation of traditional Thai styles and service concepts, establishing a true sense of place for guests, and a quality and cultured experience.”Thainess is found in particular in the way the resort is designed, with Thai textures, fabrics and flavours featured in the resort’s facilities. Materials used include rattan and carved wooden Thai motifs, offset by vibrant local silks under the high ceilings of the public areas. Rooms will also be enriched by this approach with terracotta flooring and fashionable fabrics and hangings.Lotus ponds will grace the resorts’ pool and outer areas, which are enclosed by 3m-high hedges, creating a calm and naturally cloistered open space that ensures absolute privacy and a peaceful retreat-like ambiance.Cuisine features prominently in the experience for all guests. The pool bar offers light fare while signature restaurant Pad Thai features the iconic Thai dish and a range of other traditional Thai food cooked with authentic precision. Pad Thai serves breakfast before seguing into an all-day dining restaurant in the day and a specialty Thai experience for dinner. Cooking classes are also available.Go back to the e-newsletter >last_img read more