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American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

For the second consecutive month, the average extension rate in June for troubled loans due to pandemic-related stresses on borrowers shrank in both prime and subprime loan sectors.

Brookfield Property Partners, in a JV with Qatar's sovereign wealth fund, is securitizing a commercial mortgage for the newly constructed, 70-story tower near New York's revitalized Hudson Yards district.

The number of loans going into coronavirus-related forbearance decreased for the ninth consecutive week, according to the Mortgage Bankers Association.

The bank has begun briefing regulators about how it mistakenly sent payments to creditors of Revlon, the financially strapped cosmetics company. Citi has also filed a lawsuit against Brigade Capital Management seeking to recoup $175 million it sent to Brigade on Revlon's behalf.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

American Express Co. is acquiring the teams and technology behind the online lender Kabbage Inc. as the credit-card giant seeks to provide more loans and other services to small-business owners.

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

A pioneer in the commercial mortgage-backed securities market argues the HOPE Act would bail out savvy investors who don't deserve it. Barclays predicts that kind of attitude will make passage difficult.