Alastair Borthwick, the president of global commercial banking, will succeed Paul Donofrio, who is transitioning to a new role as head of sustainable finance. The company also appointed three women to its executive leadership team.

While overall volume was down in August, it remained historically strong, particularly in the securitized market for home equity withdrawal loans made to borrowers age 62 and up.

Pagaya Investments US looks to sponsor $675 million in asset-backed securities collateralized by marketplace loans, expanding its experience in AI-underwritten debt.

Effects of major economic announcements this summer have had little impact on the lending market, with averages remaining under 3% since July.

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.

The Rhode Island bank has entered into an agreement to acquire JMP Group, which focuses on the health care, technology, financial services and real estate sectors.

World Omni Financial Corp. is returning to the auto-loan ABS market with a jumbo transaction backed by collateral of higher credit quality than other similar deals.

The agency’s enforcement action against Better Future Forward says the nonprofit’s income-share agreements — an alternative education finance product — must follow the Truth in Lending Act just like other forms of student loans.

Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.

The government bond insurer allowed lenders to become “eIssuers” a little over a year ago, and the move contributed to a large surge in electronic notes this year.

Low pool concentrations of loans on properties located in Ida's path, plus robust property insurance are expected to rein in impacts and insulate noteholders.