Uncategorized

September 10, 2020

Consumer Confidence Falls to 6-Year Low

The Conference Board Consumer Confidence Index fell to its lowest level since 2014 in August.  This is likely due to a combination of increased COVID-19 cases […]
September 10, 2020

Household Debt Falls for First Time Since 2014

After setting records in 23 consecutive quarters, total household debt fell in the second quarter for the first time since 2014 as shutdowns associated with the […]
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 […]