Mortgages

Roughly 24,000 people had new foreclosures listed on their credit reports in the first quarter, up from about 9,000 three months earlier, a Federal Reserve Bank of New York report says. States are trying to cushion the blow on homeowners now that many pandemic-related federal protections have ended.

The pending budget reconciliation legislation should retain measures meant to support minority homebuyers.

Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.

The moves were widely anticipated, with the markets already pricing them in, as the central bank attempts to get the upper hand on record-setting inflation.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

Even "lifers" are considering new jobs as financial institutions bulk up to expand into new markets.

On Dec. 31, 2021. Dollars in thousands.

The new hires joined Veritex from Bank of Houston, which has also been aggressively recruiting bankers.

The lender is the latest to announce cuts in response to declining production volume.

More than two years into the pandemic, banks hit several turning points during the first quarter. On the positive side, commercial loan growth finally materialized, but there were also snags, particularly in fee income.