Jerome Powell is set to step down this week after a particularly eventful tenure
Portfolios of foreclosed and seized office buildings, apartments and other commercial buildings hit $20.5B during Q2 2024, the highest quarterly figure posted since 2015, according to MSCI
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven't come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie and Freddie
Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac
Regional banks are in the spotlight again as cracks begin to show in their balance sheets due to the ongoing distress in the commercial real estate sector
Troubled New York Community Bancorp is reportedly ready to pledge about $5B in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital
Tokyo's Aozora Bank and New York Community Bancorp posted massive losses tied to commercial real estate loans Thursday morning, an indication that threats to the office sector aren't over yet
Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than 2 decades
The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits
It's not just regional banks but larger lenders, such as JPMorgan and Bank of America facing uncertainty if interest rates stay higher for longer, analysts at Fitch and Moody's said
Regional banks have largely weathered the crisis fueled by this year's failures of Silicon Valley Bank, Signature Bank and First Republic Bank by pursuing mergers and boosting deposits through 3rd-party brokers
Shares in regional banks PacWest Bancorp and Western Alliance Bancorp tumble, and TD Bank Group and First Horizon Corp. announce they're pulling out of a merger
The deal includes the purchase of approximately $72B in loans at a discount of about $16.5B, along with the transfer of all of the bank's deposits totaling about $56B, according to the FDIC.
Fannie Mae economists say downturn won't rival the 2008 financial crisis, but jumbo mortgages and construction loans could get scarce if small and midsized regional banks tighten
Mortgage rates expected to ease even as Fed vows to continue 'quantitative tightening' that's trimming mortgage holdings by $35B a month