The loans are related to just one timeshare site in Las Vegas, Nevada, called the Tower 52 Vacation Suites. The loans were originated under an agreement with Hilton Resorts.
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The $146 million deal could indicate that volume in the asset class has gotten large enough to support programmatic activity in the pricey housing market.
October 12
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Banks, credit card issuers and debt collectors all supported the Consumer Financial Protection Bureau’s revised regulations. But they face a steep learning curve in complying with the rules, which take effect Nov. 30.
October 11
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The entire pool is comprised of fixed-rate, fully amortizing mortgages, with an average balance of $901,373. They are also first-lien loans.
October 8
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Climate First Bank in St. Petersburg, Florida, is offering loans for condominium improvements that will reduce carbon emissions while fortifying buildings against serious weather events. More banks may implement similar programs in the years ahead.
October 8
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One issuer says inclusion of enhanced reporting is the first step toward putting the entire RMBS platform on the blockchain.
October 8
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The share of borrowers who thought it was a good time to buy hit an all-time low, according to Fannie Mae.
October 7
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Those leaving forbearance or other relief plans generally had higher credit utilization rates, were more likely to have mortgages, and experienced lower levels of bank card delinquencies, according to TransUnion.
October 7
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The loans are related to just one timeshare site in Las Vegas, Nevada, called the Tower 52 Vacation Suites. The loans were originated under an agreement with Hilton Resorts.
October 7
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However, economic data points to likely future increases, with investors awaiting numbers from upcoming jobs report.
October 7
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Through these partnerships, lenders can diversify their portfolios and even help members recoup their investment by selling or gaining credits for excess energy.
October 6
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Common Securitization Solutions has disbanded a group of independent board members originally brought on in early 2020 to look into using the government-sponsored enterprises’ platform to serve a broader market.
October 6
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About 87% of the loans in the pool were underwritten to borrowers with less than full documentation and out of that group, about 63.9% were underwritten to a 12- to 24-month bank statement to verify income.
October 6
