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Both loan demand and credit availability have contracted sharply, according to senior executives at several of the nation's largest banks. Their comments came against the specter of a potential recession.
June 4
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The changes bring in a chief financial officer from CEO Frank Martell's former company, CoreLogic, while removing four execs with ties to founder Anthony Hsieh.
June 2
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An 18-month transition period will end on July 31 for adoption of the Single Family Pool Delivery Module.
June 2
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State Farm General Insurance Co. said it's no longer accepting new applications for property and casualty coverage in California last week, a year after Allstate Corp. also paused new policies, worsening what FAIR Plan, a state-mandated insurance pool, called a "looming insurance unavailability crisis."
June 2
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Staff retained or added for the spring homebuying season has stemmed the tide of layoffs for now, according to the Bureau of Labor Statistics' latest figures.
June 2
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Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.
June 2
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When the once-ubiquitous interest rate goes away at the end of June, some businesses that have older loans may see a sudden jump in their payments. Banks, lawyers and business leaders are doing last-minute work to avoid that scenario.
June 1
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The locations being shuttered are spread across eight states, according to a spokesperson. JPMorgan took over 84 First Republic branches when it bought the failed San Francisco bank a month ago.
June 1
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The fact that rates are higher than they were at origination for many distressed borrowers has made it tough to lower payments and this new type of partial claim may help.
June 1
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The Stroudsburg, Pennsylvania-based financial institution, from 2017 to 2021, did not sufficiently serve the credit needs of majority-Black and Hispanic neighborhoods in and around Philadelphia, the DOJ alleges.
June 1
