The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.
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The transaction will not have a set collateral pool at closing, but a prefunding account will support issued notes during an initial two-month prefunding period.
June 5
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Slated to close on June 13, Regional Management Issuance will pay notes on the 15 of each month, beginning in July 2024. With a May 31, 2024 initial cut-off date, the transaction has a three-year revolving period ending May 31, 2027.
June 5
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The long-troubled lender owes at least $40 million to mortgage industry counterparties and tax collectors, it said.
June 4
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A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry's growth, experts say.
June 4
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The AA, A and BBB notes have 12.7%, 12.5% and 7.0% in credit support, which included excess spread.
June 4
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The Consumer Financial Protection Bureau Monday completed its rule establishing a nationwide database for a wide swath of financial companies — including payments companies, debt collectors, auto lenders — that have faced regulatory or legal penalties for consumer-related infractions.
June 3
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Yields on the notes are expected to range between 6.36% on the AA- and Aa2 notes--as rated by KBRA and Moody's Ratings, respectively–to 10.08% on the BB notes, as rated by KBRA.
June 3
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Despite the surge of inventory, the number of available homes is still below pre-pandemic levels, while price movements show wide regional variations, ICE Mortgage Technology said.
June 3
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The latest note sale is within the February securitization's two-year revolving period. It brings the total issuance to $1 billion and the notes have a maturity date of February 15, 2029.
May 31
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Although experts are predicting an active season, actual damages could be lower depending on how many storms make landfall and where, Corelogic reported.
May 31
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Urschel has covered complex esoteric asset-backed securities such as whole business, digital infrastructure and energy asset securitization. Chambers USA ranks Urschel in band 1 for whole business securitizations group.
May 31
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Atlanta Postal Credit Union's bid to acquire Affinity Bank marked the 11th deal overall this year involving a credit union buying a bank, matching the total for all of 2023. Separately, members voted against the merger of two credit unions in Indiana.
May 31
