After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
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One potentially positive credit aspect includes consistently low delinquencies and net losses, and recent geopolitical events have played a part.
February 21
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The Consumer Financial Protection Bureau has asked the high court to overrule a lower-court decision that threatens its funding structure. The justices didn't accept the case on Tuesday, but experts say it could still make the cut in the coming week.
February 21
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Applying blockchain technology to ABS is making progress, but cryptocurrency debacles are slowing a further rollout
February 20
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While debt outstanding and performance issues are up, and new securitizations are down as expected, only auto ABS showed early signs of issuance growth.
February 17
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Expected lifetime cumulative net loss is 9.25%, while higher note coupons, only partially offset by higher collateral interest rates, cut excess spread to 5.44%.
February 17
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Interest rate increases and economic concerns led the government entity to lower the required amount from $1 million to $250,000.
February 17
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Self-employed borrowers account for 36.2% of the loan pool's outstanding balance, and borrowers with multiple properties represent 47.9% of the pool balance.
February 16
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After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
February 16
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The 51 basis point increase was inevitable after the late payment rate reached a record low in the third quarter, the Mortgage Bankers Association said.
February 16
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The consumer loan and credit card collateral will consist entirely of assets that are seasoned, yet of shorter terms overall.
February 16
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A pullback by the buyers of Upstart's consumer loans led to a "challenging year," CEO Dave Girouard told analysts. But he added that the company is in "late-stage discussions" with partners that are looking to make longer-term commitments.
February 15
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Borrowers that are couples, and where the female is younger, account for 32.55% of the pool's aggregate unpaid principal balance, the plurality.
February 15
