Bankruptcy

The three companies agreed to pay a total of $74 million in remediation.

If the tally included loans with some form of payment relief, the rate would be close to 8%.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

Moody's says anchor stores like J.C. Penney and Neiman Marcus represent only a small portion of CMBS retail exposure, but their deteriorating fortunes will hasten the decline in credit quality of CMBS-held loans backed by Class "B" and "C" malls.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

A bankruptcy judge will be asked to sign off on the sale of BHF's Shoreline portfolio in Chicago and will hold an initial Chapter 11 hearing on another portfolio.

A bankruptcy court judge denied a lender's motion to foreclose on properties controlled by an Austin real estate investor. But the judge then issued a warning, saying an exit plan better be ready by Feb. 2.

In a case highlighting a fraud risk for mortgage companies and other financial institutions, two Garden State residents were sentenced for using fake money orders attempting to fraudulently discharge debts.

The owners of the former 3M corporate campus filed under Chapter 11 of the Bankruptcy Code, which cancelled a scheduled foreclosure auction of the Austin property.

Elizabeth Warren rolled out a plan to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, including those that involve mortgage lending.