The Latest

The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities.

The San Francisco fintech, which is buying Radius Bancorp, will discontinue peer-to-peer lending and instead offer new products, like high-yield savings accounts, to its retail investors.

The 1,400-store chicken wings chain, which has benefited from carry-out dining trends during the pandemic, will sponsor its second whole-business securitization since 2018.

A New York-state proposal to shift trillions of dollars in securities contracts from Libor- to SOFR-based benchmarks is gathering dust. That worries bankers and investors on on how to proceed with the next steps toward a replacement rate as Libor's post-2021 expiration grows nearer.

Mortgage rates remained flat this week, a sign that the bottom has possibly been reached, but the housing market looks to remain strong for the near future, according to Freddie Mac.

Morgan Stanley agreed to purchase Eaton Vance for about $7 billion in CEO James Gorman's second major acquisition this year, both of which tilt the investment bank further toward the steadier business of money management.

The deal consists of 11,673 nonconforming first-lien mortgages, of which nearly all have been previously modified. Approximately 7% are in COVID-19-related forbearance.

Money managers bargained away legal rights in exchange for higher returns in an ultra-low interest rate environment. Now they find themselves with precious little protection for their investments just as the pandemic is causing a wave of corporate bankruptcies across the country.

The ratings agency reported that the average percentage share of triple-C rated loans in CLO portfolios fell below 10% for the first time since March.

Low mortgage rates and strained supply drove the housing market price growth to a 26-month high in August, according to CoreLogic.