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Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.August 5
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With year-to-date issuance at $51.7 billion, investor demand appears to remain strong despite economic headwinds of the pandemic.August 5
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PREIT, which owns a number of large malls, is trimming the salaries of its CEO and chief financial officer while suspending dividend payments as part of a deal with its lenders to stave off default as the coronavirus pandemic continues to take its toll on the troubled company.August 4
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Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.July 30
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The national conversation around systemic racism has compelled large banks to withdraw support from the “disparate impact” proposal. But community banks maintain that the proposed reforms would reduce frivolous claims.July 20
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Rocket Cos. profits were over 35 times greater than what it disclosed for the first quarter.July 17
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The banks logged strong year-over-year growth in gain-on-sale margins for mortgage loans.July 14
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The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.July 13
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However, those who aren't current bank customers need to have $1 million in a qualifying account.July 10
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Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.July 9
