The 2022-C deal has a weaker borrower profile among loans with 61- to 72-month terms, loan terms that typically have higher loss frequency and defaults.
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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.
October 28
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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.
October 27
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The consumer lending fintech held about one-third of its loan originations on its balance sheet and fortified its deposit base this quarter.
October 27
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New York-based broker platform Prevu currently offers buying and selling services in the Northeast, Texas and the West Coast.
October 27
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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.
October 27
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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.
October 26
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An appeals court ruling last week found that the Consumer Financial Protection Bureau's funding structure violates the Constitution, but another court filing shows how the agency might fight back.
October 26
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The 2022-C deal has a weaker borrower profile among loans with 61- to 72-month terms, loan terms that typically have higher loss frequency and defaults.
October 26
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Ongoing weakness in housing markets and the economy has now driven purchase activity to its lowest level since 2015, while overall application numbers decreased for the 10th time in 11 weeks.
October 26
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In a letter to Federal Reserve Chair Jerome Powell, the chair of the Senate Banking Committee warned that the Fed was in danger of going too far in its efforts to tame inflation.
October 25
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Reduced-rate loans, originated through third-party lenders, comprise a majority of the collateral in the transaction, at 58.3%.
October 25
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Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.
October 25
