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CYCLICAL BUSINESS: "We're heading into a time when [farm] cash flows will be more difficult to manage," said Matt Williams, chairman of Gothenburg State Bank. "Regulators and bankers are looking to make sure cash flows work and that farmers and ranchers monitor their expenses."
Farm banks have enjoyed several years of robust loan volume, but declining farm income has them on guard for increases in delinquencies and more eager to use government-guarantee programs.
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Lower-than-expected interest rates and greater demand for purchase loans has been a boon for both mortgage lenders and the crop of new or returning players providing warehouse lines of credit.
The Justice Department's Clifford White is putting all mortgage servicers on notice that they too will be punished if they flout bankruptcy rules.
The Consumer Financial Protection Bureau may delay the Aug. 1 implementation deadline for new mortgage disclosure forms if vendors aren't ready, said CFPB Deputy Director Steven Antonakes.
There are a lot of consumer, investor and regulatory complaints about how the nonbank servicing firm does business, but Morgan Stanley researchers offer reasons why certain investors and borrowers could benefit from sticking with Ocwen.
If you thought the subprime mortgage-backed security was an artifact of the past, think again. Nomura Holdings and Angel Oak Capital have a deal that may help revive the part of the market that went bust during the crisis. Their success could encourage more banks to dip their toes back into riskier mortgages.
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