The Latest

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

A quarterly survey shows a major cross-section of portfolio managers it may be more than a year before global credit conditions return to normalcy from the economic havoc unleashed by the COVID-19 pandemic.

Legislation announced Wednesday would allow credit unions to make coronavirus relief loans to businesses without fear of bumping up against the member business lending cap.

The letter written by Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, was seen as a boost to Wall Street lobbying efforts seeking to quell the fallout of the coronavirus crisis on the mortgage market.

The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.

There’s little clarity on how accessible the Federal Reserve’s Main Street Lending Program - which will dole out as much as $600 billion in loans to small firms - will be. The loans may be out of the reach of BDC portfolio companies if their debt levels exceed specified limits.

Declines in mortgage servicing rights valuations at JPMorgan Chase and Wells Fargo point to the resurgence of a dilemma that came up during the last downturn.

The Borrower Protection Program enables the two agencies to exchange information about loss mitigation efforts and consumer complaints regarding specific servicers.

GM Financial's next auto-loan securitization is expected to have more front-loaded losses due to pandemic-related stresses

The volume of COVID-19 forbearance requests has risen rapidly as operational processing has improved and hold times have contracted, according to the Mortgage Bankers Association.