The big mortgage lender now expects to raise only $1.8 billion after originally setting a goal of $3.3 billion; the bill would make reducing racial inequality an official part of the Fed’s mission.
Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.
Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.
Kyle Hauptman is not likely to be confirmed to the National Credit Union Administration board until after Labor Day, though the regulator is not scheduled to meet again until mid-September.
The account would complement the existing Community Development Financial Institutions Fund and could be replenished annually if banks and credit unions use the funds to help when natural disasters and other crises occur.
An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.
Tresl CEO Christine Pierson says the specialty finance firm has turned challenges into opportunities during the pandemic, including expanding recruitment nationally since new hires can work from home.
The owner of The Shuckery in Petaluma, Calif., says she was unable to get a Paycheck Protection Program loan until she responded to an email from the delivery service and BlueVine.
