Federal and state banking agencies released a joint statement calling on financial institutions to conduct the "due diligence necessary" to select a new reference rate benchmark that is suitable for their risk profile.
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Trustmark Bank agreed to pay $9 million to resolve allegations that it discriminated against Black and Hispanic residents in Memphis, Tennessee. Attorney General Merrick Garland said the Department of Justice and other agencies will continue their crackdown.
October 22
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The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.
October 22
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Roger Hochschild predicts consumers will keep using their Discover cards in the months ahead, particularly when shopping online.
October 21
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The supply chain crunch appears to be reflected in this deal, which has the smallest collateral pool of lease contracts since 2019, at 35,020.
October 21
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Counties in the West faced the least risk from pandemic distress in the third quarter, according to Attom Data Solutions.
October 21
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The Oportun Issuance Trust 2021-C is one of the first deals on the platform to be backed by secured personal loans.
October 20
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The reception in the market to structured single-family CRTs' return at the government-sponsored enterprise was strong enough for it to plan to follow up this transaction with another one next month.
October 20
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Federal and state banking agencies released a joint statement calling on financial institutions to conduct the "due diligence necessary" to select a new reference rate benchmark that is suitable for their risk profile.
October 20
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Borrowers on the underlying loans in PMT Loan Trust 2021-INV1 have a weighted average (WA) original credit score of 778, plus a WA debt-to-income ratio of 34.6%.
October 19
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Velocity has seven classes of securities divided into 25 subclasses, including 15 that are entitled to principal and interest, seven to only interest, and one to any remaining excess cash.
October 19
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The current deal uses a capital structure virtually identical to the 2021-NMQ2, with three classes of senior notes with ratings ‘AAA’ to ‘A’, that will pay on a pro rata basis.
October 18
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The transaction is a $340.0 million interest-only, floating-rate mortgage loan with an initial three-year loan term and two successive one-year extension options.
October 18
