The Latest

Investors are on edge over whether the US central bank’s tighter policies will induce a recession. A chorus of Fed officials has fallen behind calls to keep hiking to counter price pressures.

The effects on nonbanks will depend on the mix between their production and servicing operations, Fitch Ratings said.

JPMorgan Chase CEO Jamie Dimon expressed even deeper concern Wednesday about the likelihood of an economic downturn than he has in recent months. Wells Fargo CEO Charlie Scharf was less pessimistic, but he still spoke of the “reality that the economy has to slow.”

CCG transaction’s managed portfolio and securitizations have had low net losses due to strong recovery performance, although default performance has historically been volatile.

Increased interest income would boost lending profitability, but only if borrowers are confident enough in the economy to take out loans. And that's just one of the issues hammering banks' shares.

Concerns that central-bank rate hikes may induce a recession are keeping investors guessing about the outlook for the economy as rising food and energy costs squeeze consumers, and volatility has picked up.

At stake are 10 properties in CMBS loans representing about $382.2 million in allocated property balances with leases will expire before yearend 2023.

Primary markets is the locale for just under half of the collateral pool, 49.3%, which is below the average of 53.4% observed in the comparison set.

Privately securitized mortgages made by these institutions have already exceeded 2021 levels, however some of the collateral lacks income verification, according to a new KBRA report.

In a letter Tuesday to CEO Charlie Scharf, Senate Banking Committee Chair Sherrod Brown pointed to recent media reports and said he expected Wells Fargo to develop a plan addressing “weaknesses that have plagued the bank for almost a decade.”