Finance

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.