After LA Fires Destroyed Mansions, Banks Reckon With Jumbo Loans
In the affluent Los Angeles neighborhoods scorched by wildfires, jumbo mortgages on multimillion-dollar homes are commonplace ...
US Consumer Borrowing Surges by $40.8 Billion, Most on Record
US consumer debt outstanding unexpectedly surged by the most on record in December, reflecting massive increases in ...
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Affirm's 0% loans, cards, chart a path to profitability
The buy now/pay later lender outperformed nearly every analyst estimate in its fiscal Q2 2025 earnings report. CEO Max Levchin said the company is 5 months out from positive GAAP operating income.
Consumer credit growth soars in December
Total consumer credit rose $40.8 billion in December, after a $5.4 billion decline in the prior month, the Federal Reserve said Friday. In percentage terms, it is the biggest gain since June 2022.
LA fires spotlight 'jumbo' mortgages
Jumbo loans account for 72% of the mortgage debt on affected homes, and banks are on the hook for billions should borrowers default, per Bloomberg.
Trump Administration Live Updates: Judge Pauses Job Cuts at U.S.A.I.D.
Judge Carl Nichols of the U.S. District Court for the District of Columbia, a 2019 Trump appointee, said after a hearing that ...
The Borrowing Crisis Looming Over the Trump Presidency
Despite the Federal Reserve's 2024 interest rate cuts, borrowing costs remain stubbornly high — reflecting a growing ...