Underlying loans have an average balance of $25,853, which is in line with balances on previous deals. On a weighted average (WA) basis, the deal's loan-to-value on FCAT 2023-3 was 119.4%.
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The turnaround was due to a $42 million positive servicing mark. Even with the operating loss, it beat estimates.
August 4
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A Texas judge dealt the Consumer Financial Protection Bureau a setback that has changed the bureau's calculus for furthering its near-term agenda. But an ambitious Supreme Court could also call all of the bureau's final rules into question.
August 4
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Synchrony has a lower credit quality than most other bank sponsors of credit card securitization trusts in the U.S., but the average account balance is lower, too.
August 3
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Two bank trade groups have asked the Consumer Financial Protection Bureau to relieve all banks from complying with its small-business lending rule until after the U.S. Supreme Court decides whether the bureau's funding is constitutional.
August 3
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Verdant will service the loans underpinning the bonds, and GreatAmerica Portfolio Services Group is on the deal as primary servicer of the portfolio other than late-stage delinquent contracts.
August 3
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But a Zillow economist argues that there's plenty of evidence suggesting strong GDP and job growth had more to do with the increase than what Fitch did.
August 3
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Underlying loans have an average balance of $25,853, which is in line with balances on previous deals. On a weighted average (WA) basis, the deal's loan-to-value on FCAT 2023-3 was 119.4%.
August 2
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The $35 million, class A-1 notes on the current deal have total initial credit enhancement of 7.50%, compared with 8.80% on the class A notes on the CRVNA 2023-P2.
August 2
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The deal also has a reserve account with an initial balance of $8.0 million at closing, representing 2.0% of the initial bond balance.
August 1
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Seibly, a 35-year banking industry veteran, takes over the Jacksonville, Florida, online bank now that private equity investors have purchased it from TIAA.
August 1
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The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.
August 1
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GOOD 2023-2 has 11.3% fewer 25-year loans, compared with the GOOD 2023-2 deal. Some of that shift went to 30-year loans, which gained 0.02% in the current pool.
August 1
