Opportunity Financial, which offers consumer installment loans in partnership with banks, is merging with FG New America Acquisition Corp., a special-purpose acquisition corporation. The deal is expected to close in the second quarter.
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Servicers could be dealing with approximately 1.8 million distressed properties when the latest forbearance extension ends in June, Black Knight said.
February 24
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The extension rates were the highest since the peak of lender deferrals granted in the wake of the COVID-19 outbreak.
February 24
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Hildene Capital, which is pressuring CIB Marine to issue subordinated debt to redeem preferred stock, has nominated two individuals to stand for election to the company's board.
February 24 -
Last month, prominent investor Steve Eisman pegged Credit Acceptance Corp. as his new big short, based on a belief the subprime auto lender and its industry may come under closer CFPB scrutiny under the new administration. Analysts are taking note, as well.
February 24
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Acting Director Dave Uejio said Tuesday that the Consumer Financial Protection Bureau will push back implementation of the qualified mortgage rule and may amend or revoke other Trump-era rules that have yet to take effect.
February 23
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The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.
February 23
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The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.
February 23 -
The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration's picks, respectively, to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission.
February 22
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A majority of the loans are also junior-lien obligations, according to a presale report.
February 22
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DataBank, sponsored by an affiliate of Colony Capital, is pooling ownership and leasehold stakes in 15 data centers in six cities, including the Salt Lake City market that is in high demand with West Coast companies diversifying and expanding data-center operations.
February 22
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The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.
February 21
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Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 12-18
February 18
