Kroll Bond Rating Agency removed the downgrade watch after determining there “is now less uncertainty around a permanent management structure and corporate governance” of the barge services firm that was subject of a year-long ownership tussle.
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In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.
January 15
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The Supreme Court appointed Paul Clement to represent the agency after the bureau’s current director questioned its constitutionality.
January 15
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While Citi and Chase sit on the sidelines, Bank of Nova Scotia is sponsoring its fifth card securitization since 2018.
January 15
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Fannie Mae is sponsoring a $1.03B CRT transaction, while Caliber Homes Loans, New Residential and Onslow Bay fill the non-QM pipeline
January 14
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In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.
January 14
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Macro factors point to a solid year in the securitization market but wild cards abound, many of them political.
January 13
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Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.
January 13
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Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.
January 10
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CarMax Auto Superstores is securitizing a “slightly improved” pool of prime auto loans in its new $1.2 billion loan-backed securitization, according to S&P Global Ratings.
January 10
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The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.
January 10
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California Gov. Gavin Newsom plans to ask the legislature to revamp the current Department of Business Oversight and rename it the Department of Financial Protection and Innovation, modeled after the federal CFPB.
January 9
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Todd Zywicki, a law professor who has sharply criticized the CFPB as an unaccountable bureaucracy, has been named chair of an agency task force identifying potential conflicts and inconsistencies in consumer finance law.
January 9
