Secondary Mortgage Market

There aren't enough homes. Drive the neighborhoods instead of reading about them, and the housing shortage myth starts coming apart in your hands.

Private credit didn’t grow because it was safe. It grew because the banks stepped back from risk after the global financial crisis. That capital gap had to be filled and it arrived by the trillion.

The private credit market is sophisticated, regulated, fast-moving ecosystem. If it isn't already part of how you think about funding, this is a good place to start.

Negotiating distressed commercial real estate without understanding which version of "lender" you're dealing with, you're not negotiating, you're guessing.

A new paper from Brian Shearer argues P&C insurance premiums are over $100 billion too expensive and raises a question every creditor should be asking.

There's a quiet disconnect happening in a lot of portfolios right now. The numbers look fine on paper, but something feels off. The relationship between inflation and wealth are moving against [...]

New AI-powered infrastructure is emerging to solve the biggest obstacle in private credit trading: efficient, confidential matchmaking without tipping your hand.

Every so often someone explains a corner of the CMBS market so cleanly that I just want to pass it along. Thomas Taylor's "Agency CMBS 101" over at Trepp is one of those.

The affordable housing crisis didn’t happen overnight and it’s not being driven by just one factor. What we’re seeing now is a convergence of forces.

Commercial real estate is not residential real estate with bigger numbers. It operates on different psychology, different capital structures, and very different risk exposure.