The West Virginia Democrat released a statement Monday saying that Sarah Bloom Raskin, President Biden's nominee to serve as the Federal Reserve's top regulator, "failed to satisfactorily address my concerns" and that he would not support her. Manchin's "no" vote puts her confirmation very much in doubt.

Self-employed borrowers accounted for 29.8% of the pool, while loans with co-borrowers and multiple borrowers accounted for 39.9% and 9.8%, respectively.

Purchase lending grew despite headwinds in mortgage rates and rising home values.

The U.S. economy is relatively insulated from the events unfolding in Eastern Europe. Western Europe may be affected indirectly by higher energy prices.

The bill, part of the omnibus spending package, would force banks and other critical infrastructure providers to tell the government right away when they’ve been breached.

The NCSLTs say whether student loan ABS trusts are “covered persons” and thus under the CFPB’s regulation is not something that an appeals court should decide.

While the deal is varied by obligor, Moody’s noted that KCOT 2022-1’s high concentration of construction equipment types is a potential challenge.

The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules make it impossible to confirm any details.

The company has filed a lawsuit against the banking commissioner for threatening to end its partnership with a bank that enables consumer loans to exceed the state’s 36% interest rate cap. OppFi’s argument: Its bank partner is the true lender.

In addition to the Russia-Ukraine conflict, persistent inflationary pressures and expected monetary policy moves are contributing to volatility.

Power supply and distribution customers are virtually identical, but the trust will not cross-collateralize the two revenue streams to service the debt.

Franchises, which account for 98% of Jimmy John’s restaurants, provides the business with more stable cash flows than companies with lower franchise levels.