Author Kerry O'Leary

Kerry O'Leary

Kerry O'Leary is a senior writer at the ABA Banking Journal.

Newsbytes

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

Economy

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

Economy

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

Economy

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

Economy

More than 750,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the fourth quarter, with 13,220 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said yesterday. HARP refinances dropped by 2,000 since the prior quarter. Seven percent of third-quarter loans refinanced through HARP had a loan-to-value ratio greater

Community Banking

Exciting opportunities set Community Bankers Council Chairman Howard Jaffe on an unexpected course as a hometown bank leader.