Total consumer debt in the United States hit $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax.
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Underwriting relied heavily on alternative documentation, led by debt-service coverage ratios (35.7%) and bank statements ranging from 12-23 months (28.2%) and longer than 24 months (4.6%).
February 25
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Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.
February 24
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At press time no injuries were reported, but exhibitors were relocated to satellite booths throughout the venue, the Aria Resort & Casino.
February 24
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Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.
February 24
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After closing, which is expected on February 27, coupons are expected to pay coupons of 4.83% on the notes rated AAA and 5.04% on the AAA-rated A1LCF.
February 24
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The index will provide market professionals with consistent, transparent and dependable methods of evaluating performance and risk across the securitized credit markets.
February 23
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Gatti will be based in the firm's Washington, D.C. office, where he focuses on structuring and executing asset-backed securities deals and other structured finance transactions.
February 23
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Customers with a FICO of at least 700 accounted for about 75.3% of the PV systems by the aggregate discounted solar asset balance (ADSAB).
February 23
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The CFPB is in an existential legal brawl against it's own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.
February 23
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In a letter to regulators, the consortium of organizations recommended regulatory changes affecting a range of rules from risk weights to warehouse financing.
February 20
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GSMBS 2026-PJ2's losses are based on a senior-subordinate, shifting-interest structure and Fitch expects a 10.3% final probability of default in the AAA rating stress.
February 20
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The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.
February 19
