UK news
fromBusiness Matters
1 week agoMortgage defaults hit two-year high as Iran crisis drives borrowing costs sharply higher
Britain faces rising mortgage defaults and credit strain due to the Iran crisis and increased borrowing costs.
In the notice, HUD said Equity Prime is losing its ability to independently approve FHA loans in HUD office jurisdictions Atlanta, Columbia, S.C., Dallas and Houston, while RAC, a Florida-based lender, is losing the ability to do so in Tampa. The terminations, which Equity Prime's CEO Eddy Perez says are actually a suspension, were effective Dec. 24, 2025, according to the Register. Perez told HousingWire that he was notified the day prior.