News Topic: mortgages

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

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. ... Read full article

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. ... Read full article

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 ... Read full article

Mark Calabria said Fannie Mae and Freddie Mac are currently equipped to handle elevated delinquencies, but they might need congressional or Federal Reserve help if fallout from the coronavirus persists. ... Read full article

A national moratorium would be costly to lenders and servicers, but proponents say it's needed to help cushion the economic blow of the pandemic. ... Read full article

The North Carolina company will hold onto the loans following the Fed's decision to slash interest rates. ... Read full article

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things. ... Read full article

Fed makes emergency cut, JPMorgan tests contingency plan; the justices appeared divided on whether to give the president power to fire the agency’s director. ... Read full article

The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen. ... Read full article

Demand for home loans has been strong in recent months and is expected to increase coronavirus fears push rates lower. ... Read full article

Broadway Financial prefers a small balance sheet and loans to real estate investors that offer affordable housing. Capital Corps and its founder, Steven Sugarman, want the bank to expand by making more loans directly to low- and moderate-income borrowers. ... Read full article

Depending on one's perspective, the surge in consumer borrowing is either a normal byproduct of a booming economy or a worrisome trend that portends a wave of delinquencies when the next downturn hits. ... Read full article

Banks' lowering of origination fees and loosening of underwriting standards often foreshadow a downturn. ... Read full article

Tidjane Thiam submits his resignation; the two agencies said they will soon start accepting mortgages tied to the new rate and drop Libor by yearend. ... Read full article

The city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions. ... Read full article

Mortgages, auto loans and credit cards should perform well for the next two quarters. Beyond that, all bets are off. ... Read full article

The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes. ... Read full article