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Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.

VW Credit becomes the seventh lender to offer asset-backed bonds since the Federal Reserve announced TALF backing of prime auto ABS notes to support stimulus efforts for the COVID-19 ravaged market.

Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.

Many originators stopped making riskier products, including jumbo loans and low credit score offerings, during April.

Small and mid-sized companies are facing higher borrowing costs as private lenders grow more cautious about lending to beaten-up businesses

The government-sponsored enterprises have set new temporary limits on mortgage sales while extending processing flexibilities related to COVID-19.

Regulators on both sides of the Atlantic have spent the better part of three years trying to kill the London interbank offered rate. Now, they’re looking to it once again to underpin hundreds of billions of dollars in loans as they seek to rescue their economies.

Goldman Sachs and Morgan Stanley are backing the first commercial mortgage-backed securities activity in two months, through two deals that exclude hotel or department store retail assets that are most exposed to pandemic-related stresses.

The other parts of the Day 1 Certainty program regarding income and asset verifications remain in effect.

Purchase mortgage activity rose for the third consecutive week, although the total volume was flat compared with the previous seven-day period, according to the Mortgage Bankers Association.