Author Archives: Kerry O'Leary

OCC: Mortgage Performance Improved Year-on-Year

The share of current and performing first-lien mortgages rose to 95.4 percent for the second quarter, up from 94.7 percent a year earlier, according to the Mortgage Metrics Report released today by the OCC. The report is generated from data from seven large national banks representing 35 percent of all outstanding residential mortgages. Foreclosure activity declined from the first quarter, ...

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OCC: Trading Revenue Down in Q2

Commercial banks reported total trading revenue of $6.7 billion in the second quarter of 2017, down 4.9 percent from the first quarter but up 4.5 percent from a year prior, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released today. The quarter-on-quarter decline reflects a persistent seasonal trend. The net current credit exposure was up by ...

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FHFA: GSEs Sold Over 75,000 Nonperforming Loans Since 2014

Fannie Mae and Freddie Mac have sold 75,502 nonperforming loans as of December 2016, with a total unpaid balance of $14.2 billion, according to the Non-Performing Loan Sales Report released by the Federal Housing Finance Agency today. On average, the NPLs had a delinquency of 3.4 years and an average current loan-to-value ratio of 97 percent. Nearly half of the ...

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Household Debt Tops 2008 Peak

Outstanding household debt increased by a 1.2 percent in the first quarter, rising by $149 billion to a new record level of $12.73 trillion, the Federal Reserve Bank of New York said yesterday. The quarterly increase brought household debt above its 2008 peak and was driven by increases in nearly every debt category. The first quarter saw growth in mortgage ...

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Consumers Anticipate Slightly Higher Spending, Lower Income Growth

Americans’ expectations for how much more they will spend in the next year landed at 3.29 percent in March, a slight nudge from February’s 3.19 percent reading, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. The outlook for household income growth declined, landing at 2.52 percent from 2.8 percent in February. The decrease was ...

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N.Y. Fed Sees Decline in Credit Rejection Rates

Individuals who have applied for credit reported higher lower rejection rates in February than they reported in October, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today, which gauges consumers’ experiences and expectations regarding credit over the previous year. The results show that rejection rates dropped to 8.5 percent of those who applied for ...

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