Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.
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Financially stressed consumers nearing their credit limit use buy now/pay later loans to finance smaller purchases, while wealthier households want to avoid paying interest or carrying a balance on credit cards for bigger-ticket items, according to the New York Fed.
February 15 -
For the first time since mid-December, the Freddie Mac survey reports mortgage rates over 6.7%.
February 15 -
HBAN will service the transaction, with an A3 rating for long-term, senior unsecured debt, an A2 long-term credit assessment, and P-1 for short-term deposits.
February 15 -
The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.
February 15 -
The notes benefit from total hard target credit enhancement of 16.50%, with an estimated 4.02% in estimated excess spread per year.
February 14
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Like a growing number of auto ABS deals, the pool has more battery electric vehicles, which represent 10.6% of the pool, compared with 3.8% on the previous deal, FCAOT REV 2023-1.
February 14 -
The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.
February 14 -
Consumer obligors represent a slight majority of the pool, 54%, while loans to commercial obligors represent the remaining 46%.
February 13 -
Shared services organizations PSCU and Co-op Solutions are offering post-purchase buy now/pay later loans, with the goal of reaching consumers who are concerned about managing their credit.
February 13 -
In the current pool, some 77.4% for all three pools are composed of tier A loans. This is slightly higher than the concentrations of tier A loans seen in several previous deals.
February 12 -
January volume increased 36% compared to the month before and the annual decline in activity was the lowest in almost two years, Optimal Blue said.
February 12 -
American Honda Finance Corp., the financing division of carmaker Honda, says that the Consumer Financial Protection Bureau sent it a "civil investigative demand" connected to the "furnishing of credit reporting information on consumer accounts."
February 12