Federal Reserve Bank of New York

The Federal Open Market Committee lowered the fed funds rate target to between zero and ¼% in an emergency meeting on Sunday, but while analysts say the move was needed, they feel it will take more to offset the effects of COVID-19.

In recent months federal regulators have been speaking out on the risks that extreme weather events pose to the financial system, something their European counterparts have been doing for some time.

Home loan originations rose by double digits in the third quarter while auto loan originations approached an all-time high, according to new household credit data from the New York Fed.

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

The next phase of the digital mortgage revolution is starting and lenders need to use a holistic process to create their plans in order to get up to speed.

Mortgage debt climbed to a new peak of $9.4 trillion in the second quarter and the distribution across the U.S. varies greatly.

As the clock runs out on Libor, the American Financial Exchange created its own alternative to replace the much-used index.

Americans continued to take on debt in the first quarter, though new mortgage borrowing slowed to the weakest level since late 2014, according to a Federal Reserve Bank of New York report.

The Federal Reserve Bank of New York is streamlining its Ginnie Mae holdings by combining mortgage-backed securities with similar characteristics into larger pass-through instruments.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.