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Recent news about a COVID-19 vaccine that's ready for distribution has led to a sharp steepening of the yield curve, which is a good thing for banks as interest margins will increase, and profits will follow.
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The uncertainty that came about as a result of the Madden v. Midland Funding ruling has been a concern among lenders, but the OCC's final rule confirming the "valid when made" principle may give banks a pass, which is a positive thing for secondary loan markets.
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The OCC has issued its final rule surrounding the "valid-when-made" principle and is clearing up uncertainties regarding which financial institution is considered the true lender in terms of bank-fintech partnerships.
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Selling off risky loans — especially with today's high loan prices — can be a great way for lenders to hedge against risk in the current economic environment.
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Reserves are increasing among credit unions due to bad loans and a decline in income. This comes as credit unions see a high volume of low rate mortgages and sluggish lending in more profitable loans. Credit unions may want to sell off bad assets and replace them with purchased high-quality loans.
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Confidence among US workers in various industries is up, according to a recent LinkedIn survey. This improved positivity comes despite the ongoing COVID-19 pandemic as different industries come up with more innovative ways to continue doing business.
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Some consumer loan products are slowing significantly among credit unions, while mortgages continue to remain a strong segment. Overall, credit union loan balances have gone back to their relatively weak pre-pandemic growth rates.
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Smaller banks are using the MSLP as a way to attract larger commercial clients as bigger banks appear to stick only to serving existing clients.
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Home prices have increased over recent months thanks to a busy nationwide real estate market despite the coronavirus pandemic. This has led to a strong mortgage market, making now a good time to sell off mortgage portfolios that are not strategic or ideally performing.
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Banks have added a lot to reserves and have seen relative stability in loan charge-offs. So far, banks seem to be weathering the pandemic quite well.
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