Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Sunnova 2022-C shows borrowers with tighter credit qualifications, and initial OC, as a percentage of pool balance, is lower than Sunnova 2022-B's.

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.

Three of the note classes will issue deferrable notes, where the trust can defer interest payments to the notes under certain circumstances.

Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.

The closure of its nationwide retail business — which followed the shuttering of its consumer direct business in Q2 — pushed the Florida bank into a $1.4 million loss for the most recent quarter.

Some 2.9% of the pool—comprised of 1,705 loans—was 30 days delinquent, and 68.3% of the loans had experienced one or more delinquencies in the past 24 months.

The share of home loans late by more than 30 days or in foreclosure in August inched back down to 2.8% from 3% the previous month, according to CoreLogic.

The consumer lending fintech held about one-third of its loan originations on its balance sheet and fortified its deposit base this quarter.

New York-based broker platform Prevu currently offers buying and selling services in the Northeast, Texas and the West Coast.

Delinquencies in the 30-day-plus cohort have not produced higher gross losses, and recoveries in recent static pool vintages are retreating to historical averages.

Michelle Seitz tells attendees at American Banker's Women in Banking NEXT awards to take advantage of the networking and mentoring available to them that she didn't have access to at the start of her own career.