Credit

Looming economic uncertainties forced mortgage lenders to tighten underwriting standards in May.

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.

When a bank subscriber to Sure Profile pulls a credit report on an applicant for a loan or account, Experian will check to see if the identity data matches a real person.

The second-quarter jump in provisions may be three to four times higher than a year earlier and will be mostly for loans that have yet to go bad, analysts said.

Loans with coronavirus-related forbearance have to be reported as current to the credit bureaus but there’s a ripple effect from them that has implications for credit reports and underwriting.

The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.

As the coronavirus takes a major toll on housing inventory and credit availability, pent-up buyer demand could lead to market recovery, according to Redfin.

The Missouri real estate market was expected to have a promising year, but it's since been hobbled by the COVID-19 pandemic, and the disruption may stretch into the fall according to the Missouri Realtors Association.

More details have emerged about the damage the coronavirus pandemic is inflicting on the hospitality industry. One servicer alone has received 2,000 workout requests in the past month.

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.