Harry Terris

Whether rooted in increased market power among surviving lenders, a return to sensible pricing after the excesses of the bubble or strains on capacity now that subprime infrastructure has been sloughed off, profits from originating mortgages appeared to lift off last year.

Besides intensifying the "too big to fail" problem, one side effect of the raft of failures and crisis-driven acquisitions has been the thinning out of competition across a range of financial services markets.

Small banks are major suppliers of credit to small businesses, but that means they could also be a circuit for the transmission of problems in commercial real estate.

In the 12 months through June, a steady erosion of the smallest banks' position in small-business lending stopped. Historically, a major force in market share trends has been consolidation, with larger banks absorbing business formerly handled by smaller rivals.

Small banks have long been the source of a disproportionate amount of credit for small businesses, but, as with other loan categories, consolidation eroded their position by concentrating lending into larger institutions.

Part one of our examination of prospectuses for recent credit card securitizations focused on higher-end balance activity among the top issuers. In this installment, it's lower-balance accounts' turn.

Bank of America Corp.'s lawsuit against MGIC Investment Corp. reflects escalating tensions in the industry over mortgage insurers' denials of claims that lenders submit for defaulted home loans.

While securitization of residential mortgages that lack government backing remains moribund, credit card and other consumer lenders have issued about the same amount of asset-backed bonds this year as they did in 2008 thanks to a federal rescue.

Bank of America Corp.'s lawsuit against MGIC Investment Corp. reflects escalating tensions in the industry over mortgage insurers' denials of claims that lenders submit for defaulted home loans.

A crash in property values may have wiped out $1 trillion of commercial real estate equity and opened up a gaping need for capital, but opportunities for new investors are scarce as the downturn plays out in slow motion, according to KBW Inc.'s Keefe, Bruyette & Woods Inc.

The new credit card law, enacted in the depths of a recession, cracks down on issuers' longstanding practices, but could also indirectly benefit the companies in an economic recovery.

Delinquencies rise at Freddie Mac; credit bureaus "score" a court victory over FICO; making securitizations more transparent; and more.

Bank of Montreal is taking a major leap forward in the corporate payment card business, yet another field whose ranks are being reshaped by crisis-driven divestitures.

The new credit card law, enacted in the depths of a recession, cracks down on issuers' longstanding practices, but could also indirectly benefit the companies in an economic recovery.

Barry Sternlicht's REIT has $1 billion to buy distressed assets, but banks aren't selling. Why he says that will change.

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Chargeoff rates continued to drop throughout the credit card industry in October, bolstering the view that the sector is beginning to pull out of a devastating cycle of credit losses.

More details have emerged about Google's nascent foray into the mortgage lead-generation business.

More details have emerged about Google's nascent foray into the mortgage lead-generation business.

Tighter underwriting and longer waits to closing reduced customer satisfaction with home lenders this year, according to J.D. Power and Associates.