Banking

About 4,400 loans started the foreclosure process in November, alongside 176,000 mortgages in active foreclosure.

Join Jim McKelvey, co-founder of Square as he offers his insights into where the Fintech industry is headed next year. Will a Biden administration insist on greater regulation? What will happen in the cryptocurrency markets? What will be the big IPOs in the sector? Will GooglePlex make a big splash? What new technologies or applications should we be expecting?

Demand for home purchases and car loans would need to increase substantially to make up for what's expected to be a sharp drop in refinancing revenue.

The new bill ordering $600 stimulus checks and $25 billion in emergency rental assistance won't be enough to help millions of Americans struggling to make housing payments, according to industry watchers.

The agency's rule outlines steps collectors must take to inform consumers about an outstanding debt, and prohibits companies from pursuing lawsuits after a statute of limitations has ended.

Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state.

With infection rates rising and unemployment claims increasing since Thanksgiving, mortgages in coronavirus-related forbearance rose by 37,000 last week, according to Black Knight.

The boom continues, with refinances making up a 61% share of all mortgage loans issued that month, according to Ellie Mae.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.

The percentage of seriously delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter.