Home prices are rising and first-time buyers now account for an increasing share of sales, factors that could lead to a surge in defaults during the next economic downturn.
Banks have criticized the new accounting standard, but it would likely soften future bubbles and reduce subsequent credit crunches by requiring that reserves be held upfront when loans are made.
Growing home prices plus rising interest rates are putting a damper on mortgage lending, which pushes the market to seek out less qualified borrowers and increases the risk of fraud.
The Thursday morning tweet came in response to comments from JPMorgan Chase CEO Jamie Dimon in which the banker questioned the president's intelligence.
At least six groups are exploring opening new banks in the state, which is enjoying an economic recovery and has a dearth of local financial institutions.
Dark clouds may not yet be on the horizon, but industry executives are sending the message to investors that they know a turn in the credit cycle is coming, and they are planning accordingly.
The legislation, which still needs Senate approval, would let the head of the Small Business Administration raise the program's cap in periods of heavy demand.
James Smith said his late enrollment in the state’s Republican Party meant he would be ineligible to be a candidate in its August primary and that he did not want to disrupt the nomination process.
James Smith said he would decide soon whether he’ll seek the Republican nomination for governor. He said he was inspired partly by his recent work on a commission tasked with recommending fixes to the state’s fiscal and economic problems.
