Fitch Ratings notes that Federal Family Education Loan Program ABS is more exposed to basis risk when there is little credit enhancement and excess spread.

The cloud retail firm NewStore is an early adopter of the tech giant's iPhone payment acceptance service, which some see as a step toward eliminating dedicated checkout lanes altogether.

Payment suspensions on loans securitized through the government-backed market stopped falling in May, plateaued over the summer, and reversed course last month, according to an industry trade association.

The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.

SPS will have roughly 1.4 million mortgages in its portfolio after the transaction closes, something the two companies estimate will occur in the fourth quarter of this year.

Some loans in the guaranteed portfolio have adjustable-rate coupons based off of Libor, but PacWest will make the interest payments based on the SOFR index.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

Some 95.8% of loans in the statistical asset pool as of the statistical calculation date were supported by guarantees with a WA non-zero guarantor FICO of 716.

The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.

Non-qualified mortgages comprise 50.5% of the pool, and the remaining loans are considered exempt from the Ability to Repay/Qualified Mortgage rule.

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

Both the 30- and 15-year averages are now more than 3 percentage points higher from their levels of one year ago.