While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.
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Fannie Mae and Freddie Mac’s exemption from the Qualified Mortgage rule is on borrowed time, but a House bill would allow lenders to use the mortgage giants’ guidelines for documenting borrower income.
November 12
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Banks like RBC and JPMorgan Chase can now more easily draw real-time FactSet data feeds into applications.
November 12
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The sponsors of the Class A structure, deemed a “trophy asset” by Kroll Bond Rating Agency, are placing $825 million of a $1.2 billion whole loan into a transaction dubbed CPTS 2019-CPT.
November 12
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The dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing loans surged nearly 75%.
November 11
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Unlike previous central bank chiefs, Powell’s chances of being renominated by either the current president or many of the Democratic contenders are slim.
November 10
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Eric Blankenstein, who resigned from the Consumer Financial Protection Bureau in May after the discovery of his racially charged writings, was named acting executive vice president of Ginnie Mae.
November 8
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Over 75% of loans reported mark-to-market declines in prices in the secondary market – or 4.7 loans for every loan price that advanced, according to the LSTA.
November 8 -
According to presale reports, Mercedes-Benz Auto Lease Trust (MBALT) 2019-B will have only two months over the life of the deal in which there is more than a 5% concentration of expected lease maturities.
November 8
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According to Kroll Bond Rating Agency, Airborne – which was founded in 2017 – will market three classes of notes in a transaction dubbed Tailwind 2019-1, backed by a portfolio of 17 aircraft the firm will acquire on behalf of 15 global lessee airlines.
November 7
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Loss expectations are up slightly for the second retail auto lease securitization of the year for RAC King the parent company of the regional “buy here/pay here” used-car chain American Car Center.
November 7
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The share of severely underwater mortgages shrunk by over two percentage points compared with a year ago, as these borrowers benefited from the rise in equity levels, Attom Data Solutions said.
November 7
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At a forum convened by the CFPB, several bank and fintech executives argued that long-delayed rules required under the Dodd-Frank Act can help fight discrimination and shine a light on unsavory practices in the market for small-business credit.
November 6
