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August 3, 2020

Banks Brace for Loan Defaults; Economic Pain Ahead

Some of the biggest U.S. banks are putting their money where their fear is. JPMorgan Chase, Citigroup and Wells Fargo are bracing for a deteriorating economic […]
August 3, 2020

Purchase Fraud Risk Ticks Up

Even as mortgage loan application defect risk returned to record-low levels in June driven by the refinance boom, fraud risk for purchases is perking up, First […]
August 3, 2020

US Economy Shrinks at Record 32.9% Pace

The U.S. economy suffered its sharpest downturn since at least the 1940s in the second quarter, highlighting how the pandemic has ravaged businesses across the country […]
August 3, 2020

New Mortgage Delinquencies Hit Record High

New mortgage delinquencies hit a record in April, well above anything seen during the Great Recession.  Some 3.4% of Americans became at least 30 days delinquent […]
July 9, 2020

Equipment Leasing New Business Volume Down 26%

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed their overall new business volume for May was $6.7 billion, down 26% year-over-year from new […]
July 9, 2020

The Calm Before the Storm of Bankruptcies

Though the numbers haven’t shown it yet, many are bracing for a spike in personal bankruptcies once coronavirus relief efforts and stay-at-home orders have been exhausted. […]
July 9, 2020

Bankers Fear Virus Surge Will Delay Economic Recovery

Bankers are beginning to worry that a surge in new coronavirus cases in states that were quick to reopen will make it tougher for the economy […]
July 9, 2020

Widespread Deferrals Raise Questions on Creditworthiness

Banks have pulled back sharply on lending to U.S. consumers during the coronavirus crisis. One reason: They can’t tell who is creditworthy anymore. Millions of Americans […]
June 8, 2020

Economy Will Improve but Remain Distressed

Following April’s record one-month decline, consumer confidence inched upward in May by an insignificant amount, according to the University of Michigan Surveys of Consumers. The Sentiment […]