Banking

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

The company has linked tradeline information to lien data in ways designed to help mortgage portfolio managers keep pace with property values as they change.

Clark Street Capital said it developed a service to pair sellers with multiple potential buyers within just two weeks. It's meant to help small lenders close deals fast while still getting the benefits of a bidding process.

The top five banks and thrifts have nearly $96 billion in combined home equity loan portfolios as of September 30, 2023.

Southern Bancorp in Little Rock, Arkansas, plans to put $250 million in equity capital it received from the Treasury Department to good use making mortgages and acquiring banks.

Consumer delinquencies Vantagescore tracked during November generally were above pre-pandemic levels as shopping season began. Mortgages remained the exception.

The North Carolina-based company said it expects to close about 4% of its branch network, or roughly 80 offices, by the end of the first quarter. The closures come amid Truist's $750 million cost-cutting initiative.

Bank investors hope they can party like it's 1995, when the U.S. economy stayed healthy even after aggressive Federal Reserve rate hikes. But a few analysts are a bit more cautious over whether banks' loan books will hold up as well this time.

The delinquency rate that Kroll Bond Rating Agency tracks improved last month but JER's recent Chapter 11 filing and 2024 forecasts suggest it's still under pressure.

Credit unions have announced 11 deals for banks so far in 2023, five short of 2022's total.