The Mortgage Mess
It all started with mortgages. The worldwide real estate boom was driven by an expansion of residential and commercial real estate lending, and so was the crash that led to the global financial crisis. Now Bloomberg's mortgages columns look at that business five days a week from the perspective of investors, lenders, consumers and economists: because it's still all about mortgages.
Investors owning the most senior notes in Europe’s first commercial mortgage-backed securities to default on maturity rejected a “consensual restructuring” of the 601.7 million euros ($792 million) of debt.