The concentration of borrowers with FICO scores below 700 decreased to 12.13% of the pool, and the contingent of managers and lead underwriters is much longer on the series 2024-A notes that it was on the series 2023-B.
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Rep. Andy Barr, R-Ky., is asking the Federal Deposit Insurance Corp. to withdraw a corporate governance guidance proposal as FDIC Chair Martin Gruenberg is set to testify in Congress later this week.
May 13
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The current portfolio is secured by tax liens from municipalities in eight states and Washington, D.C., that have a redemption value, or the approximate value of the outstanding liens, of about $119.6 million with an original lien rate of 12.2%.
May 10
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
May 10
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The deal includes subordination in the form of class B notes, a rarity for whole business securitization deals.
May 10
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When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
May 10
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All four of the class A tranches benefit from total initial hard credit enhancement of 13.80%, while the B and C classes of notes are covered by 10.6% and 6.0% in initial hard credit enhancement.
May 9
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Yields are expected to range from 6.3% on the AAA notes to 7.4% on the BBB notes, which are priced against the three-month interpolated yield curve, and have a final schedule payment date of May 15, 2029.
May 9
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The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9
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The lender lost a battle to toss the lawsuit, but convinced a judge to compel the regulator to produce data on its competitors.
May 9
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The securitization amount is smaller than an earlier transaction, and its AAA notes are expected to price at wider spreads than the AAA notes on the 2024-A series.
May 8
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Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
May 8
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Notes A, B and C benefit from credit enhancement amounting to 33.3%, 16.2% and 7.0%, and the deal's capital structure will repay investors on a combined pro-rata and sequential basis.
May 7
