REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.
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Steady purchase demand still led to a positive August according to the Mortgage Bankers Association.
September 4
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The sale of the $318 million-asset portfolio comes five weeks after the Greenville, South Carolina-based company agreed to sell its investment advisory unit.
September 3
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More than 91.7% of the portfolio loans were extended to dentists, general medical practitioners or veterinary surgeons—considered prime obligors.
September 3
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Only loans from the Achieve Personal Loan product line are in the current collateral pool.
August 30
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Observers and investors weigh in on how rate cuts may shift pricing dynamics for CLO tranches.
August 30
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Home Loan bank executives said Congress would have to pass a law for the system to increase its affordable housing contribution above 10% of earnings.
August 30
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Overcollateralization, subordination of the junior notes, a non-declining cash reserve account and excess spread provide credit enhancement to the notes.
August 29
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Since 2019, the portfolio has recorded five defaults—driven by bankruptcies—and each was resolved with a 100% recovery rate, Fitch said.
August 29
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Recent rate movements have failed to result in significant purchase growth, but refinances are providing lenders some lift.
August 29
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The Federal Reserve finalized its capital requirements for large banks Wednesday based on June's stress test outcomes.
August 28
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The 1,055 loans in the pool are primarily non-qualified mortgages and loans that are exempt from ability-to-repay rules, which represent 36.4% and 43.87% of the pool, respectively.
August 28
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Canadian asset-backed commercial paper issuers eye chance to narrow massive financing gap created by the CDOR benchmark cessation.
August 28
