Credit

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

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.

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

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

The Federal Housing Administration said in its annual actuarial report that the capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.

Measures are needed to better address the next event-driven mortgage credit crisis that will likely occur when an even higher percentage of mortgage credit assets are owned by nonbank entities.

Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.

This deal comes a little more than two months after CIS combined with Avantus.

Mortgage volume continues to surge, driven by borrowers refinancing behind record-low interest rates, according to Ellie Mae.

Deferrals may be hiding credit issues, leading lenders to track deposit flows, property maintenance and other factors to gauge the true health of their portfolios.

The government-sponsored enterprises set a Sept. 30 deadline for sellers to accept applications for Libor adjustable-rate mortgages.

Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered.

Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, leading lenders to press landlords to pay up.

Uncertainties in the job market drove mortgage credit availability down again, falling to the lowest point since March 2014, according to the Mortgage Bankers Association.

The Federal Reserve could ease capital rules, foster the creation of special-purpose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.

Conditions have improved for the first time since November.

While Black homeownership just rose to its highest level in 16 years, it's still the lowest of any racial demographic and 29 percentage points behind white people.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

As the coronavirus created uncertainty for the housing market, underwriting standards tightened further in June.

How the mortgage and housing industries react to the current civil rights moment could shape policies and bridge the homeownership divide for the Black community.