Rocket shrunk its workforce by about 20% year-over-year, while Academy cut 250 employees prior to being acquired by Guild Mortgage.
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Prices in several cities came in more than 20% above what would be considered a sustainable level when compared to local economic factors, according to the rating agency's report.
March 1 -
The collateral pool has some 2,950 assessments. They have a WA original term of 26.39 years, an assessment loan-to-value ratio of 6.26%, and a mortgage LTV of 44.50%.
March 1 -
The turmoil at New York Community Bancorp resumed Thursday with the departure of CEO Thomas Cangemi. The embattled regional bank, which also recorded a $2.4 billion goodwill impairment charge and disclosed other new problems, saw its share price plunge.
February 29 -
The deal has total leverage of 7.81%, and par subordination of 40% on the AAA notes, with 14% on the BBB-rated notes. The notes have a weighted asset (WA) spread of 4.39%, excluding floors.
February 29 -
The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.
February 29
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The latest inflation news has created concern that the Federal Reserve's pivot on short-term rates could be delayed.
February 29 -
The transaction is a reset CLO, where the maximum weighted average life on the deal is reset to nine years, in that case, and the non-call period is reset to 2.2 years as of the refinancing date.
February 28 -
Rep. Maxine Waters, ranking member of the House Financial Services Committee, led the letter, spurred by the recent merger announcement between Capital One and Discover, which the letter said would enable the merged company "to influence multiple points of the marketplace."
February 28 -
Initial overcollateralization is 11.3%, up from 8.50% of the initial collateral pool balance. Aside from that adjustment, target overcollateralization is 22.45%, compared to 13.00% on Westlake 2023-4 deal.
February 28 -
Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.
February 28 -
The mortgages have an average balance of $70,312, and an average coupon, on a weighted average (WA) basis, of 10.06%. Also on a WA basis, the borrowers have an original credit score of 739.
February 27 -
Federal Reserve Vice Chair for Supervision Michael Barr said in a speech Tuesday that banks might need to establish margin to counteract counterparty risks presented by private funds.
February 27