Recent regulatory guidance is not meant to force banks and thrifts to "cut back" on their commercial real estate lending, according to Comptroller of the Currency John Dugan.The proposed guidance is designed to ensure that institutions with high concentrations of CRE loans have the risk management and capital necessary to address the increased risk, Mr. Dugan told the New York Bankers Association. "We' re not talking about expertise or capital levels that are out of reach or impractical for community and midsize banks -- because many of you already have both," the comptroller said. The comment period on the proposed CRE guidance ends April 13, but the Conference of State Bank Supervisors has already submitted a highly critical comment letter arguing that the guidance imposes an "unnecessary burden" on institutions. "Regulatory guidance should not chase banks from a business line where they understand the market and risks," the CSBS says.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28