Bloomberg JPMorgan Chase & Co will raise mortgage borrowing standards starting Tuesday, Reuters reported, citing Chief Marketing Officer for home lending businesses Amy Bonitatibus. Customers applying for a new mortgage will need a credit score of at least 700 and will be asked to pay 20% of the home’s value as a down payment, according to the report. JPMorgan & ...

Bloomberg The Federal Reserve may not be done with its all-out blitz to help the US economy survive a coronavirus-induced shutdown, even after launching an unprecedented $2.3 trillion in lending programs. The central bank used up only about 40% of the as much as $454 billion in seed capital that Congress provided it in extending help to small and mid-sized ...

Bloomberg The People’s Bank of China (PBOC) has raised its stake in Housing Development Finance Corp. to just over 1%. China’s central bank held about 17.5 million shares at the end of March, according to quarterly data filed by India’s biggest mortgage lender to exchanges. It is mandatory for companies to disclose shareholding of more than 1% at the end ...