mortgages

New coronavirus funding stalls; mortgage lenders pressure Mnuchin

04/17/20

Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults expected.

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Consumer credit at big banks is holding up — so far

04/15/20

Quick forbearance actions averted an immediate hit to asset quality, but executives warned that a spike in unemployment and a looming recession will cause long-term problems.

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JPMorgan profits drop; Earnings may decide dividend payouts' fate

04/14/20

Bank’s earnings fall 69% in the first quarter; this week’s earnings reports could determine whether banks will need to suspend dividends.

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Banks meet ‘mad scramble’ for loan deferments, but at what cost?

04/13/20

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.

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Banks expect ugly earnings season; treading carefully on PPP loans

04/13/20

Q1 profits expected to drop by nearly 25%, while investment banking revenues could tank much more; many banks have tighter standards than the SBA.

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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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