Banking

Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers' need to fulfill the forbearance requirements in the coronavirus rescue package.

Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.

The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.

By the end of the first quarter, the number of borrowers 30 days late on their mortgage increased by 59 basis points.

A surge in demand for home loans drove the increase, but the second quarter could see a slowdown in borrowing and more delinquencies as consumers contend with the economic fallout of the coronavirus pandemic.

Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers.

As the coronavirus takes a major toll on housing inventory and credit availability, pent-up buyer demand could lead to market recovery, according to Redfin.

Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.

Delinquencies in U.S. commercial mortgage-backed securities jumped in April, with the economy battered by the coronavirus pandemic.

The bureau issued an interpretive rule clarifying that consumers under certain conditions can modify or waive waiting periods required by the Truth in Lending Act and Real Estate Settlement Procedures Act.