coronavirus

June 8, 2020

Consumer Confidence is Shattered

Consumer confidence has collapsed amid the coronavirus pandemic and isn’t getting a lift from states re-opening their economies, according to a new report. A Morning Consult […]
June 8, 2020

The US Economy is in a Recession

Today, the National Bureau of Economic Research said the U.S. economy peaked in February, ending the longest expansion in U.S. history at 128 months, or about […]
May 19, 2020

Credit Card Spending Down 40%

Spending on JPMorgan Chase & Co. credit cards plunged 40% for the average U.S. family at the start of the coronavirus slowdown, an “enormous” drop that […]
May 19, 2020

Bankers Expect Recession Into 2021

Even as states begin to lift stay-at-home orders in hopes of jump-starting their sagging economies, many banking executives are bracing for a prolonged slowdown that could […]
April 9, 2020

Shutdowns Have Wiped Out 29% of U.S. Economy

More than a quarter of the U.S. economy has ground to a halt in recent weeks as the coronavirus pandemic shutters nonessential businesses and generates millions of […]
March 23, 2020

A Message to Our Clients

We hope this note finds you and your families safe and healthy during this time of turmoil and uncertainty.  Throughout the world, society is taking unprecedented measures […]
March 16, 2020

Commercial/Multifamily Delinquencies Low Despite Mounting Fears

According to the Mortgage Bankers Association, any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won’t be known for some time.  If it […]
March 13, 2020

Banks Ready Disaster Plan in Wake of Coronavirus

Large US banks have begun testing crisis measures in case of a broader coronavirus outbreak that prevents staff from going to work, according to banking sources.  […]
March 11, 2020

Consumer Lenders Fall Victim to Coronavirus Fears

It’s hard to believe that less than three weeks ago the S&P 500 closed at an all-time high.  This was largely due to the enduring strength […]