A Rocket Mortgage securitization is the first private investor deal with a high share of e-notes, and the company is considering use with another loan product type.
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The investment banking giant said that it will "moderate" its pace of share repurchases as it continues to talk to the Federal Reserve, which recently increased its stress capital buffer from 5.5% to 6.4%.
July 15 -
Property insurance and taxes account for over one-third of current loan performance risk, according to Auction.com's recent survey of default servicing leaders.
July 12 -
Known at BLAST 2024-3, the deal will issue five classes of notes with subprime auto loans serving as collateral, even if the pool is upsized to $680 million.
July 12 -
Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.
July 12 -
The wireless infrastructure industry has positive fundamentals, with all major U.S. carriers making further network infrastructure investments to boost coverage and capacity to meet growth in wireless data traffic.
July 11
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A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.
July 11 -
One of the transaction's many positive attributes is its low loan-to-value ratio, 71.5%, and with 4.7 million residents, the Riverside-San Bernardino-Ontario, Calif., metro area ranks as the 12th most populous metro area in the U.S.
July 10 -
During his second day of congressional testimony this week, the Federal Reserve chair said the central bank does not have supremacy over other agencies on their joint rulemaking.
July 10 -
At the CFTC Sterling oversaw the 3,300-plus banks, intermediaries and asset managers registered with the agency, and the examination, rulemaking and enforcement referral programs.
July 10 -
The Consumer Financial Protection Bureau has proposed requiring that mortgage servicers exhaust all efforts at assisting struggling borrowers before moving ahead with a foreclosure.
July 10 -
Declining refinance activity offset the growth in government-backed purchases, the Mortgage Bankers Association said.
July 10 -
No single company contributes more than 15% to the pool, while SN Servicing will service 84.3% of the loans in the pool.
July 9