While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”

A strong capital structure boosts confidence in the timely payments of the notes, including provisions to mitigate negative carry.

During the pandemic, consumer lenders have found it easier to collect payments because the federal student loan moratorium has made many borrowers more liquid. A plan for blanket forgiveness reportedly under consideration by President Biden could sustain that trend.

Fair value increases on existing business and an accounting change made for troubled debt restructurings likely explain why its results contrasted those of competitor Freddie Mac.

Together, the deals OBX programs will issue about $850.5 million in prime jumbo and non-prime RMBS paper, and are expected to close on May 10.

While the government-sponsored enterprise’s single-family mortgages are still not performing as well as they did before the pandemic, the most recent vintages are getting there.

The trust plans to originate about $25 million in new loans during the loan acquisition and recycling periods, both of which will end on June 15, 2023.

The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.

Bankers object to the Consumer Financial Protection Bureau's request on “exploitative junk fees” that produce billions in income for financial institutions, arguing that banks are compliant with statutes that require fees be disclosed to customers.

North American portfolio managers were almost split on where 5-Y spreads would move, while no professional managers in European saw defaults decreasing.

While the lender-servicer reported robust Q1 earnings, it is anticipating lower future revenue due to the tight originations environment.

Almost the entire deal will issue notes through a senior-subordinate capital structure repaying principal sequentially, instead of on a modified sequence.