Finance

Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.

The Wall Street giant has more than $14 billion of real estate investments, and it took a $1.15 billion hit during the second quarter from writedowns of those bets.

Even as some observers are reducing their expectations for an economic downturn, the government-sponsored enterprise changed the expected time frame that one could occur.

The disgruntled worker, among other actions, entered false information into the firm's Optimal Blue platform causing severe economic damages, the lender said.

For large banks, the agencies wanted to go above the global standards for residential mortgages, as well as some business loans, to avoid giving those lenders a competitive advantage over smaller peers, according to another person familiar with the proposal.

The share of homeowners late by 30-59 days got slightly higher but remained below 1%, according to the Federal Housing Finance Agency.

Its affiliation with Apollo Global Management frees the company from having to rely on a securitization strategy.

And it is quite likely that the lower gain on sale seen in initial Q2 bank earnings reports will read through to the large nonbank lenders, Keefe, Bruyette & Woods said.

The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.

The chattel financing firm's cash infusion is in addition to a $15.5 million venture round in 2022 and a Series A earlier this year.

Delinquencies are balanced by low loan-to-value ratios, which could result in more favorable recoveries in the event of defaults.

The proposal would bring companies cited for civil enforcement actions under its scope to bar them from doing business with the government-sponsored enterprises.

Churchill Funding is accusing Easy Financial of reneging on a master purchase agreement both companies signed in 2020.

The new review requirements are set to go into effect in mid-September and will replace temporary guidance put in place following a 2021 building collapse.

This agreement comes approximately one month after the REIT agreed to buy Arlington Asset Investment.

High vacancy rates in U.S. office markets and the impact of rising interest rates on property values in Europe have prompted a brutal selloff in publicly traded real estate stocks and bonds.

A vast majority of the pool, 86.35%, consists of primary homes. Investment properties and secondary homes, meanwhile, account for 11.29% and 2.36% of the collateral.

The properties have a purchase price of $684.8 million, and an issuer cost basis of $744.4 million, a debt yield of 7.0%, and a debt service coverage ratio of 1.44x.

A subsidiary pushed its tender offer to buy outstanding shares by June 27 further out after a small percentage of stockholders failed to accept by the original expiration date.

Nonbanks in home lending rely heavily on this type of funding and are carefully watching rules for depositories that offer it as the industry consolidates.