Category: Jumbo Rate News | Page 2

Doing Well While Doing Good

As you know, many banks are offering special emergency concessions to customers affected by COVID-19, whether it be from illness or job insecurity. Some banks are waiving overdraft and/or late payment fees. Others are granting payment extensions or forbearance on…

Unemployment Begets Debt Begets Bad Debt

Chairman of the Federal Reserve, Jerome Powell, made some poignant remarks in a speech on Wednesday. What we found particularly disheartening was that: People who had a job in February and whose annual household income was less than $40,000 stood…

Debt, Delinquencies, Unemployment, All Up

Thanks to the New York Fed, we are getting our first glimpse into first quarter numbers, and it’s not a pretty sight. Household debt hit a new record at $14.3 trillion. That’s not a surprise; it’s been rising every quarter…

Paycheck Protection Program (PPP – Round 1)

Phase 2 of the Paycheck Protection Program (PPP) portion of the CARES Act (aka, the “Coronavirus Aid, Relief, and Economic Security Act”) began on April 27th with some of the same hiccups that Phase 1 experienced (primarily difficulties with the…

Low Income Credit Unions Time to Shine

A Gallup survey conducted last month asked credit union members, “In what way can your credit union support you and your family during this situation?” The most urgent needs cited were: Increase Peace of Mind. Provide the relief needed to…

Who’s Afraid of Ghost Malls? We All Are!

Commercial Real Estate (CRE) loans are comprised of multifamily (five or more) residential real estate, office buildings, shopping malls and most other structures that house businesses. All of which expanded along with the economy over the past several years. And…