Economy

Last year, smaller lenders were put at a slight disadvantage in terms of what they were charged in guarantee fees when they sold loans for cash.

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

But late payments for all other investor types rose compared with the second quarter.

The consumer bureau's revamp of criteria for "qualified mortgages," a special regulatory class of loans free from liability, emphasizes pricing instead of a borrower's debt-to-income ratio.

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.

The average per-loan profit margin remains incredibly strong, but the share of senior executives expecting it to fall has risen markedly.

Employment worries and the pandemic's ongoing obstacles for home buying wore down consumer confidence in November, according to Fannie Mae.

Even with a slight downward revision to September’s numbers, employment in the industry remained incredibly high through October as home-loan refinancing continued to surge.

The economic fallout from COVID-19 has highlighted systemic concerns about commercial real estate exposure, business debt and short-term wholesale funding, the Financial Stability Oversight Council said in an annual report.

Troubled Veteran’s Administration “no-bid” loans could bankrupt servicers in the near future, says Morgan Snyder of CAllc Research Publications.