A rate drop was a common concern for some servicers during the quarter, and Ocwen recently took a step aimed at better addressing this risk in the future.
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The deal will repay investors sequentially and through a shifting interest payment structure, according to ratings analysts from Moody's Investors Service. On a weighted average (WA) basis, the rating agency notes, the mortgages have a FICO score of 773.
February 26
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The lawmakers, led by Sen. Elizabeth Warren, D-Mass., said the deal would further anti-consumer bank consolidation, but also criticized the OCC's proposed changes to the merger process, asking that they be strengthened.
February 26
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While mortgage volume should rise this year, the government-sponsored enterprise expects slightly less activity than it did back in January.
February 26
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Two trusts, the Sunnova Sol VI 2024-1 Issuer and the Sunnova Helios XIII, 2024-A will issue the notes, both with Atlas SP at the helm.
February 23
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A financial services veteran, Peter Akwaboah joins the government-sponsored enterprise after serving as a managing director for Morgan Stanley, where he led technology and innovation strategy.
February 23
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The USDA forecasted farm profits will plunge 26% this year, potentially creating credit quality challenges for lenders.
February 23
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Rising card balances—and delinquencies—might be a matter of normalization post-COVID, but securitization remains an attractive option for banks extending revolving credit, say observers.
February 23
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Time Investment Company, a first-time issuer, offers loans that mostly finance home water treatment systems, and its customers approach prime quality.
February 22
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Lenders collected an estimated $25 billion in additional interest income last year by raising the average margin on annual percentage rates, or the amount above the prime rate, according to the Consumer Financial Protection Bureau.
February 22
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The 30-year average rate got closer to 7% as central bank officials dashed near-term hopes of a cut, according to Freddie Mac.
February 22
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Although the notes are supported by non-prime assets, Banco Santander sits at the top of the transaction's ownership chain and has a stable long-term, senior unsecured debt rating of A2.
February 22
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Kobalt's notes benefit from an overcollateralization level of 35%, and a debt service reserve account initially sized to cover six months of fees and interest on the notes.
February 21
