American Banker, Feb. 23, 2021–Hannah Lang (subscription)Chair Jerome Powell told a congressional panel that the Federal Reserve is weighing whether to extend temporary relief from the “supplementary leverage ratio” — …
Category: Top National News
U.S. Bank Profits Fell 36.5% in 2020 on Pandemic Concerns–FDIC
Reuters, Feb. 23, 2021–Pete SchroederU.S. bank profits fell 36.5% in 2020 from the prior year as banks set aside massive amounts to guard against potential losses, but the industry showed …
N.Y. Appeals Court Sides with Lenders in Foreclosure Case
National Mortgage News, Feb. 23, 2021–Kate Berry (subscription)The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.https://www.nationalmortgagenews.com/news/n-y-appeals-court-sides-with-lenders-in-foreclosure-case
Jerome Powell Sees Easy-Money Policies Staying in Place
Wall Street Journal, Feb. 23, 2021–Paul Kiernan (subscription)Federal Reserve Chairman Jerome Powell reaffirmed the central bank’s commitment to maintaining easy-money policies until the economy has recovered further from the effects …
Do Higher Mortgage Rates Mark the End of the Refi Wave?
HousingWire, Feb. 23, 2021–Alex RohaWe may never again see a year like 2020. That’s somewhat somber news for the lenders who benefited from a series of downright strange conditions to …
MBA: Loans in Forbearance Drop for Third Consecutive Week
DS News, Feb. 23, 2021–Eric C. PeckThe Mortgage Bankers Association reported that the total number of loans currently in forbearance decreased by seven basis points from 5.29% of servicers’ portfolio …
Home Depot, Macy’s Expect Pandemic Trends to Continue, For Now
Wall Street Journal, Feb. 23, 2021–Matt Grossman and Suzanne Kapner (subscription)Home Depot and Macy’s said pandemic-fueled shopping trends have continued into 2021, driving demand for home improvements and home goods. …
Manhattan Office Space Availability Reaches a Record High
Motley Fool, Feb. 23, 2021–Maurie BackmanWhen the coronavirus pandemic first reached U.S. soil, many employers were quick to kick workers out of the office and ask them to do their …
Senate Panel to Question CFPB, SEC Nominees Next Month
American Banker, Feb. 22, 2021–Neil Haggerty (subscription)The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration’s picks, respectively, to …
In this Crisis, White House and Banks are On Same Team
American Banker, Feb. 22, 2021–Hannah Lang (subscription)More than a decade after the near collapse of the financial system and the bruising fight over Dodd-Frank put the industry and a Democratic …