Consumer lending

The rise in late and suspended payments following the coronavirus outbreak in the United States may have helped the FHA realize it's high time to improve the process.

The share of Dallas-Fort Worth area homeowners who are behind on their mortgage payments is spiking with the pandemic.

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

A significant number of plans that expired at the end of June were not renewed, Black Knight said.

A subprime-related settlement between the government and Deutsche Bank provided meaningful benefits to some U.S. consumers in need, according to a new report. But the author acknowledged that those gains could prove illusory for some consumers given the coronavirus crisis.

The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.

Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau.

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

Compared with the week prior, approximately 83,000 more loans from all investor types became forborne.

For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.

The delinquency rate at the end of May was the highest in over eight years, but that includes borrowers in forbearance plans.

Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.

Shelter-in-place orders have given homeowners the time to pursue upgrades and repairs, and banks are seizing the opportunity to help finance the projects.

A former Hillsborough County, Fla., mortgage broker has been sentenced to 15 months in federal prison for his role in a scam to which banks lost more than $5 million.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

If delinquency rates rise, all four stand-alone firms would have a capital shortfall.

About 9% of government-insured loans in forbearance have low equity, which could hamper post-forbearance servicing.

But there was an increase in private-label mortgages in forbearance.

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.