Origination

Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.

COVID-19 could not stop the upward pressure on home prices in San Diego County which reached a new high of $600,250 in June.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

The company lost $8.9 million in the second quarter, but its origination and servicing businesses were profitable.

With coronavirus moratoriums still in place, foreclosures fell to the lowest level since at least 2000, while serious delinquencies ballooned by 1.2 million in June, according to Black Knight.

Home sale prices are up while sales numbers are way down in metro Detroit's real estate market, which has yet to experience any collapse in values from the coronavirus-caused recession.

Delinquencies have been ticking up since the start of the coronavirus pandemic and Capital One is warning of more pain unless the government provides additional relief to tenants and landlords.

The new normal created by the events so far in 2020 could make this the best year ever for lenders.

Sales of previously owned homes rose in June for the first time in four months as the economy reopened more broadly from coronavirus-related shutdowns and buyers took advantage of record-low mortgage rates.

Mortgage applications increased 4.1% from one week earlier as consumers continued to pursue both purchases and refinancings even as conforming rates rose from their record lows, according to the Mortgage Bankers Association.