Although the mortgage collateral was short on full documentation underwriting, the borrowers in the pool have high incomes and plenty of liquid reserves.

MEFA expects to originate some $271.5 million of new loans during the origination period and can use excess revenues to originate additional loans during the recycling period.

Wilmington Trust’s CLO and loan administration division is an extension of the company’s loan agency and structured finance businesses.

Pingora Loan Servicing still hasn’t disclosed the full scope of last fall’s hack impacting at least 169,000 customers across four states.

Martin Gruenberg, the agency' acting chair, said it will be watching commercial real estate and other assets as matters of “ongoing supervisory attention.” 

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.

Borrowers in the pool are well off, with median annual income of $315,283, non-zero weighted average (WA) asset reserves of $406,325 and high residual income.

In a 5-4 Supreme Court decision two years ago, the bureau’s rulemakings survived intact. But a pair of pending cases that challenge the agency's funding through the Federal Reserve are again seeking to invalidate every action the CFPB has taken since 2010.

Supported by 2,785 loans to prime borrowers, the pending transaction is the fifth term securitization from BHG 2022-B, sponsored by Bankers Healthcare Group.

Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.

The home prices of the pool are 9.2% above a long-term sustainable level, compared with 9.2% nationally as of April 2022, down 1.4% since last quarter.