Alexander Fabino

Aj Fabino is a Newsweek reporter based in Chicago. His focus is reporting on Economy & Finance. Aj joined Newsweek in 2023 and brings with him in-field experience reporting on complex financial topics. His analysis during a high-profile bankruptcy case garnered recognition and was cited by Congress. Over the years, Aj has engaged with high-profile politicians and numerous billion-dollar company CEOs. He has a Bachelor of Science in Business Administration from Northern Illinois University. You can get in touch with Aj by emailing a.fabino@newsweek.com.Source

Chicago, Illinois

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Mortgage failures spark fears of foreclosure spike

Mortgage delinquencies are rising 15 percent year-over-year, signaling a potential increase in foreclosures as American households grapple with inflation, low housing supply and high mortgage rates. The trend marks the sixth consecutive quarter of delinquency increases, according to TransUnion's Credit Industry Insights Report, adding more pressure to an already distressed housing market. "Delinquencies increased across all stages (early, mid and late) and all loan types," Joe Mellman, senior vice president and mortgage business leader at TransUnion, said in a statement.The spike in...…Mortgage delinquencies are rising 15 percent year-over-year, signaling a potential increase in foreclosures as American households grapple with inflation, low housing supply and high mortgage rates. The trend marks the sixth consecutive quarter of delinquency increases, according to TransUnion's Credit Industry Insights Report, adding more pressure to an already distressed housing market. "Delinquencies increased across all stages (early, mid and late) and all loan types," Joe Mellman, senior vice president and mortgage business leader at TransUnion, said in a statement.The spike in...

November 9, 2023

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