Homebuyer mortgage applications surged as June turned into July, in yet another sign of the housing market’s surprisingly strong rebound after the coronavirus-triggered shutdown this spring. The number of mortgage applications from homebuyers shot up 33 percent in the week ending on July 3 compared...
There’s still lots of federal cash available for small and medium-sized businesses (SMBs) in need of a hand up through the COVID-19 crisis. In a report released Monday (July 6), the U.S. Treasury Department and Small Business Administration (SBA) indicated the Paycheck Protection Program (PPP),...
The Treasury Department and Small Business Administration (SBA) don’t seem likely to release the data this week on Paycheck Protection Program (PPP) loans as they’d said, The Washington Post reports. The data would have shown exactly where the money went, including the information on any...
The U.S. House of Representatives has passed a bill to extend the deadline for businesses to apply for forgivable loan aid through the Paycheck Protection Program (PPP), CNBC reported. The new legislation will extend the deadline to apply for forgivable loans to Aug. 8 from...
Just as the application deadline was set to expire on the Paycheck Protection Program (PPP) at midnight Tuesday (June 30), the U.S. Senate extended the popular measure for five more weeks, The New York Times reported. If lawmakers had failed to act, more than $130...
It’s a little harder for U.S. consumers to get credit as lenders retreat during the coronavirus crisis, The Wall Street Journal reported. The major reason is that banks can no longer easily determine who is creditworthy. “Banks are looking very carefully at their underwriting models...
The deadline for applying for Paycheck Protection Program loans is coming next Tuesday (June 30) after the PPP’s long and eventful run, which started in early April. With less than seven days to go before the deadline, there’s still reportedly more than $100 billion left...
After a week of bad news, the embattled Wirecard AG caught a break from lenders that provided 1.75 billion euros ($2 billion) in credit to the German payment services company, sources told Bloomberg News. The banks said they will determine the troubled company’s long-term viability before requiring Wirecard to...
The latest Forbearance and Call Volume Survey by the Mortgage Bankers Association (MBA) has seen a decrease in the number of loans up for forbearance, according to a press release. The survey shows the number as of June 14 was 8.48 percent of servicers’ portfolio...
