China’s mortgage boycotts spread online with billions in home loans at stake

China’s mortgage boycotts spread online with billions in home loans at stake

Hundreds of thousands of homebuyers in at least 80 Chinese cities are refusing to pay their mortgages as property developers struggle to complete their building projects, signalling a new era of turbulence for China’s continued real estate crisis.  As of July 12, homebuyers in 22 Chinese cities had threatened to stop their mortgage payments over

China Seeks to Stem Mortgage Boycott With Developer Loans

China Seeks to Stem Mortgage Boycott With Developer Loans

(Bloomberg) — China’s bank and property stocks rose after regulators sought to defuse a growing consumer boycott of mortgage payments by urging banks to increase lending to developers so they can complete unfinished housing projects. Most Read from Bloomberg The guidance from the China Banking and Insurance Regulatory Commission was issued in response to the

Crypto-Backed Mortgages, Loans Gaining Traction

Crypto-Backed Mortgages, Loans Gaining Traction

There’s been talk about people buying real estate with cryptocurrency for some time, but a new report from banking giant Citi finds that crypto-backed mortgages have been gaining ground for reasons that suggest loans collateralized by digital assets will have a growing place in the broader lending market. Noting that it is “rare to find

Mortgage, home loans could be easier with Fannie Mae, Freddie Mac plan

Mortgage, home loans could be easier with Fannie Mae, Freddie Mac plan

In a historic move, Fannie Mae and Freddie Mac announced changes to battle systemic racism that has blocked people of color from homeownership. Fannie Mae and Freddie Mac are rolling out a credit reporting system that factors in paying rent into creditworthiness score. Other measures include down payment assistance, improved underwriting guidelines, reserve funding for emergencies and

Improvement in performance slows for rent, mortgages, student loans

Improvement in performance slows for rent, mortgages, student loans

Reductions in the number of struggling tenants and people with school-related loan difficulties faltered a little in June compared to March, suggesting that the broader trend toward improvement in housing and educational debt performance is continuing, but has slowed. Missing payments for mortgage borrowers had fallen to 2.19 million in June from 2.33 million in

After scrutiny, Premium Mortgage vows to boost loans to people of color | News

After scrutiny, Premium Mortgage vows to boost loans to people of color | News

A Rochester-based mortgage lender has pledged to invest $500,000 in loan incentives to homebuyers in historically-disadvantaged communities across upstate New York after coming under scrutiny for its lending patterns by state regulators. The move by Premium Mortgage follows a state Department of Financial Services report on mortgage lending practices in the Buffalo area that cited

Legacy offers forgivable loans for businesses hurt by COVID pandemic

Legacy offers forgivable loans for businesses hurt by COVID pandemic

As the country inches to some sense of normalcy, small businesses — especially minority-owned companies — are still struggling to recover from the pandemic’s financial gut punch. Shutdowns during the early days of the pandemic and keeping pace with public health orders wreaked havoc on mom-and-pop businesses’ bottom line. Even as businesses open up, mask restrictions loosen