There was lots of financial news last week (a FOMC meeting (which, by the way, I can’t believe how much time supposedly long term focused investors spend thinking about), META and Amazon smashing earnings, etc.), but nothing was more interesting to me than
The size of the condo loan write down is likely not driven by credit at all but by the interest rate and moving the loan to loan held for sale. I gather the condo loan terms with pre-funding for capex were non-standard terms that don't meet NYCB's current lending standards, the loan was subjected to some regulatory criticism and so NYCB decided to sell it.
The size of the condo loan write down is likely not driven by credit at all but by the interest rate and moving the loan to loan held for sale. I gather the condo loan terms with pre-funding for capex were non-standard terms that don't meet NYCB's current lending standards, the loan was subjected to some regulatory criticism and so NYCB decided to sell it.