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The deal builds on two initiatives by Blackstone: to build its so-called permanent capital through an expansion into insurance, and to pursue lower-cost rentals for its real estate business.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

The return of more normalized numbers for two key players in the home loan market could be the lead-up to a wave that’s been anticipated since the coronavirus arrived.

Purchase loans also increase, as their average size shrinks

Those handling loan modifications anticipate a growing secondary market for loans in forbearance as they budget cautiously for additional alterations of regulations down the road.

In states where it is legalized, cannabis sales tax revenues led to greater home value appreciation through community reinvestment, according to an analysis by Clever Real Estate.

Consumer price spikes, which in June surged the most since 2008, will likely be a temporary feature of an economy that’s quickly recovering from the pandemic, said Federal Reserve Bank of San Francisco President Mary Daly.

The president has a chance to make his mark on the central bank as the terms of Federal Reserve Chair Jerome Powell and Vice Chair of Supervision Randal Quarles near their end. He will face pressure from progressives to pick reform-minded leaders, while moderate Democrats and Republicans in the narrowly divided Senate might favor reappointing Powell.

The company, OriginPoint, brings together two enterprises active in the jumbo-homes space.

For the first time, the FDIC, Federal Reserve and OCC have combined efforts to advise banks on risk management procedures when working with nonbank partners.