Banking

While the government passed sweeping measures last year to prevent mass homelessness among renters, there was no targeted help for mom-and-pop property owners who provide much of America’s affordable housing.

The Dallas company will pay nearly $54 million for a 49% stake in a lender that operates in 10 states.

At first the deal seemed an unlikely marriage of two mortgage-heavy companies. But acquiring the Michigan company would help New York Community accomplish its two chief goals — reducing deposit costs and its concentration of multifamily loans — while giving it the scale to pursue more deals.

The persistently slow reduction in the number of borrowers at risk of default indicates that while loan performance overall is improving, a substantial pool of mortgages will need workouts when forbearance ends.

The agency's new policy requires collectors seeking to evict tenants to provide written notice of their rights under a federal moratorium.

An interactive dialogue with Founder and CEO of NorthOne on the fintech industry, the growing needs of challenger banks, and the future of SMB banking.

COVID-19 quickly altered the hierarchy of borrower debt, with home financing payments taking precedence over credit cards and auto loans, according to TransUnion.

While the overall delinquency rate decreased for the fifth straight month, states with unemployment rates that were double and triple the national average had the most overdue loans, a CoreLogic report found.

The stabilizing economy drove one of the biggest mortgage recoveries on record, according to the Mortgage Bankers Association.

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.