Republicans have knocked Sarah Bloom Raskin as too liberal on climate change and Lisa Cook as underqualified ahead of a Senate Banking Committee hearing Thursday. Meanwhile, a Democratic senator's illness threatens to stall nomination votes in the full chamber.

If the minimum CE test or the delinquency test is not satisfied, then 100% of the scheduled and unscheduled principal will be allocated to the senior tranche.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, has cautioned banks, credit unions and fintechs about fair-lending violations that may stem from reliance on artificial intelligence. His comments threaten to discourage financial firms from using the technology to crunch nontraditional data about borrowers, experts say.

Three housing finance organizations asked for an interactive process similar to that used previously for originations and said they preferred less reliance on life-of-loan indemnification as a remedy.

Community bankers are excited that the Federal Reserve is poised to raise interest rates, which would make loans more profitable — unless rates rise so much they suppress demand.

Series 2022-1 is under the structure of a master trust, and can issue additional notes. Class A notes will amortize to an LTV ratio of about 71.0%, in about seven years.

RAC Asset Holdings, a related entity, has been purchasing older vehicles with more mileage, and spent more on reconditioning, to make up for the squeeze on supply of vehicles.

The credit card issuer fielded questions about its fees two days after the Consumer Financial Protection Bureau announced a wide-ranging review of consumer charges. Executives said they would not take a big revenue hit even in the face of new limits.

In addition to hinting at a March rate hike, the central bank this week announced an intention to have Treasury securities make up a greater share of its holdings, which has implications for securitized home loans.

Store counts and systemwide sales could expand further, and soon; in December 2021 the company announced its intentions to acquire Del Taco for $575 million.

The asset-backed-security (ABS) market should be “largely stable” in 2022, but the prolonged COVID-19 pandemic, coupled with inflation, may hurt segments of the sector, structured finance experts at Fitch Ratings said at a recent conference.

Pagaya AI Debt Trust, 2022-1, or PAID 2022-1, will be Pagaya Structure’s first publicly rated securitization.