mortgages

Banks tighten lending to nervous homeowners hoping to tap equity

04/02/20

The worsening economy brought on by the coronavirus pandemic has big banks rethinking who they will lend to.

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Banks may get boost from loan program; Trouble for mortgages not backed by U.S.

04/01/20

SBA loans could pour billions into bank coffers; Fed bailed out government-backed market, others may suffer.

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Lenders back push from hotels to access crisis-era program

03/25/20

With seven in 10 rooms sitting empty amid the coronavirus outbreak, hotel and banking groups are urging policymakers to open up the Term Asset-Backed Securities Loan Facility.

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Big banks offer relief to California homeowners affected by COVID-19

03/25/20

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic. Bank of America said it would waive payments for 30 days.

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New York banking regulator orders emergency relief on mortgages, card fees

03/24/20

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.

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April wave of missed payments could upend mortgage servicers

03/24/20

With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.

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Fed goes all in; Santander chief takes pay cut

03/24/20

The Fed announced several new lending facilities and virtually “unlimited” purchases of Treasury bonds; Ana Botín will donate the money to a coronavirus fund.

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Mortgage bond sales flood market, sparking pleas for U.S. help

03/23/20

The rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of the market.

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Virus scare creates perfect storm for mortgage lenders

03/19/20

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

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Relief for underwater homeowners will be different this time, lenders say

03/19/20

Forbearance and loan-modifications programs implemented after the financial crisis left borrowers bewildered and angry. Now the mortgage industry wants to create a common standard for providing relief to homeowners whose livelihoods have been upended by the coronavirus pandemic.

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