Commercial lending

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.

The joint statement said examiners will not impede banks’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.

With seven in 10 rooms sitting empty amid the coronavirus outbreak, hotel and banking groups are urging policymakers to open up the Term Asset-Backed Securities Loan Facility.

The company is one of the first to share information on impacted clients, forbearance requests and emergency loan applications.

Losses on commercial real estate aren’t expected to be as bad as the 2008 crisis; as more cities announce shutdowns, consumers turn to online payments.

Member business loans have been on a roller coaster over the last year and as the pandemic impacts the economy, executives will need to closely monitor these portfolios to catch any problematic credits.

Some industry observers are calling on the Treasury Department to bring back the Small Business Lending Fund to help small companies stay afloat during the coronavirus pandemic and get back on their feet once the crisis passes.

On Dec. 31, 2019. Dollars in thousands.

The rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of the market.

The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.