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Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans' retaining control of the chamber would be defending against the disruption of a Democratic blue wave.

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

The guidelines are somewhat similar to those the Federal Housing Finance Agency established for the government-sponsored enterprise market in response to the high number of loans impacted by coronavirus-related hardships.

The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance.

KKR & Co. is looking to grow its asset-based private lending business to capitalize on a retreat by banks and more traditional market participants in the wake of the coronavirus pandemic that has led to mis-priced risk.

Colony has sold offices in Europe, industrial properties and grocery-anchored shopping centers in the U.S. In May, it announced plans to restructure seven portfolios of hotels with $3.5 billion of debt.

The dot plot will be the star of the meeting, but the coronavirus and the elections will be part of the discussion, economists say.

Jane Fraser, a longtime Citigroup executive, will be the first female CEO of a major Wall Street bank. She succeeds Michael Corbat, who had held the post for eight years.

The stock market has reached record highs despite rampant unemployment, recession and a global pandemic. What gives?

The Senate Banking Committee met Wednesday to review central bank lending facilities such as the Main Street Lending Program, which provides bank-issued loans to middle-market firms. But some lawmakers on the panel said the focus of pandemic relief has been misplaced.

"The current economic crisis continues to disproportionately impact borrowers with FHA and VA loans," said Mike Fratantoni, the MBA's senior vice president and chief economist.

Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.

The Federal Housing Finance Agency's proposal could undermine the companies’ mission to support the housing market and penalize consumers in underserved communities, industry and consumer groups say.

Deals, trends and research in structured finance and asset-backed securities for the week of Aug. 28-Sept.3

Two bills — one providing relief from a loan accounting standard and another extending forbearance measures — would collectively contain credit losses.

The captive-finance arm of General Motors is the first automotive lender this year to launch a securitization to finance inventories as dealerships rebound from COVID-19-related economic stresses.

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac.

The pandemic drives home the point that without those funds being siphoned off, the recent fee hikes would not be necessary.

This proposed Libor replacement is an imaginary, backward-looking benchmark dreamed up by the economists at the Fed with no discernible market.