Banking

The largest concerns are with pandemic risk and defaults, along with business resilience and adaptability, according to a Wolters Kluwer survey.

The architects of two major loan deals featuring Black banks, one involving multiple lenders and a pro sports franchise and another backed by Citigroup, say more transactions like these are in the works.

While 12,000 mortgages exited forbearance, the most borrowers entered forbearance protection in a week since early September, according to Black Knight.

Borrowers who exit CARES Act-related forbearance in the spring and have stacks of other bills to attend to may be in search of liquidity via such products, the company predicts.

The Biden administration could curtail federal support for farmers, even with bankruptcies and requests for loan workouts on the rise. Banks are hoping that increases in crop prices and exports to China could help avert a credit crisis.

While distressed mortgage rates crept down overall, serious delinquencies still tripled year-ago rates in September, according to CoreLogic.

In November, more loan products were being offered both at the upper and lower ends of the market.

People with scores below 500 are often in communities that suffer the most from economic hardship and violence. Banks and regulators can do more to qualify them for financing, ultimately creating healthier local economies.

Citigroup's realty arm is sponsoring a $1.06 billion RMBS of highly seasoned mortgage loans with troubled histories. All of the loans were acquired via a Fannie whole-loan auction.

Mortgage delinquencies dropped to the lowest level since March but, particularly at the seriously delinquent level, they're still much higher than pre-coronavirus rates, according to Black Knight.