(Wall Street Journal) — Some big U.S. banks are starting to increase their lending to businesses as demand for loans rises and healthier banks seek to grab customers from weaker rivals. After declining steadily for most of the past two years, the amount of commercial and industrial loans held by commercial banks inched upward during […]
(U.S. News and World Report) — If you need to borrow to finance your education, federal student loans should be first on your menu. Congress and the U.S. Department of Education regulate federal student loans, setting maximum interest rates, borrowing limits, and other important loan terms. These loans come in loads of different flavors. Here’s a taste […]
(Wall Street Journal) — Facing a spike in the number of apartment buildings going bust in low-income neighborhoods due to heavy debt burdens, the Bloomberg administration is taking an activist approach, publicly and privately pushing lenders selling loans on the properties to take haircuts on the troubled mortgages. The aggressive role reflects a fear among […]
(New York Times) — As least until recently, we’ve been in the midst of a refinancing boom. So consumers applying for refinancings should at least expect some delays. While lenders are leery about releasing details about how long refinancings are taking to close today versus a year ago, some are willing to admit that processing times are […]
(Wall Street Journal) — Mortgage rates, after hitting record lows this summer, are rising. But the rates are still tantalizing for borrowers looking to refinance out of an onerous loan. For the week ended Dec. 9, the average rate for 30-year fixed loans was 4.46%, according to Freddie Mac, up from 4.17% in early November […]
(Wall Street Journal) — Rising government borrowing costs have driven mortgage rates to their highest level in six months, challenging the still-shaky housing market and the Federal Reserve’s efforts to boost the U.S. economy. The rate for a 30-year, fixed-rate mortgage averaged 4.61% this week, according to the weekly survey from government-backed mortgage firm Freddie […]
(Businessweek) — If you haven’t had luck landing a business loan or credit line from the big banks you’ve approached, don’t expect your odds to improve any time soon. The Basel III guidelines, intended to prevent further financial crisis, will require lenders such as Bank of America (BAC), Citigroup (C), JPMorgan Chase (JPM), and Wells […]
(New York Times) — VENANTE LINO, a small-business owner who lost nearly everything in the devastating earthquake in January, stood in line here along with dozens of other impeccably dressed women, all waiting to pay the latest monthly installment on the emergency loans they received to rebuild their businesses. Mrs. Lino approached a folding table […]
(Washington Post) — Four community organizations in the District last week received grants from a Treasury Department fund intended to make credit and financial services more available to underserved populations. The awards were part of $104.8 million in grants for 179 groups in 44 states and D.C., the largest single round of awards in the […]