Commercial lending

The American Bankers Association has called for an end to the government shutdown, saying it has prevented customers from securing loans and threatens even more damage.

Consumer lending should also be a bright spot, while mortgage lending could be suppressed by rising rates and tight housing supplies.

The banking industry has long been critical of the government-sponsored enterprise, but the system could provide valuable banking services to large swaths of the country currently lacking access to them.

Freddie Mac issued its first non-low-income housing tax credit forward commitment, providing financing for an affordable housing development in Minnesota.

Richard Harra was also fined $300,000 for painting a false picture of the bank’s financial health at the height of the financial crisis.

An agency report said servicing portfolios have shrunk by nearly half in 10 years as much of the mortgage market has shifted to nonbanks.

The performance of loans included in commercial mortgage-backed securities improved for the fifth consecutive quarter, with delinquencies down 179 basis points over the time frame, according to the Mortgage Bankers Association.

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter.

Minorities are still charged more for mortgages when all other applicable credit factors are equal — both in person and online, according to a new study by the University of California, Berkeley.

The move allows the New York multifamily lender to make more loans without having to raise capital.