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The Loan Drought at Banks May Soon Be Coming to an End
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Consumer Credit Soars Most On Record As Credit Card Borrowings Hit An All Time High
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by Tyler Durden
Tuesday, Aug 03, 2021 - 08:25 PM
Last month when looking at the latest bank balance sheets, we showed that something was terminally broken in the US financial system: specifically, we showed that a stunning divergence had emerged between the total deposits at big banks which had just hit a record high courtesy of the Fed s QE (as the fungible reserves injected by the Fed end up as cash on bank balance sheets and offset the concurrent surge in deposits) and the stagnant loan books, which had barely budged since the Lehman bankruptcy as most US consumers have no pressing need to expand businesses and ventures, a startling confirmation of the woeful state of the US economy when one peels away the fake facade of the record high stock market.
8/02/2021 12:12:00 PM
Black Knight released their Mortgage Monitor report for June today. According to Black Knight, 4.37% of mortgage were delinquent in June, down from 4.73% of mortgages in May, and down from 7.59% in June 2020. Black Knight also reported that 0.27% of mortgages were in the foreclosure process, down from 0.36% a year ago.
This gives a total of 5.01% delinquent or in foreclosure.
Today, the Data & Analytics division of Black Knight, Inc. released its latest Mortgage Monitor Report, based upon the company’s industry-leading mortgage, real estate and public records datasets. Considering recently updated forbearance expiration timelines announced by FHFA, FHA, VA, and USDA,
this month’s report looks at the impact of the many varying allowable forbearance periods. According to Black Knight Data & Analytics President Ben Graboske, due to the complexity of the expiration matrices across different agencies, the operational challenge mortgage servicers were alread
Calculated Risk
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