The regional direct lender caters to very risky and highly leveraged borrowers (507 FICO, 163.95% LTV), but is offering relatively little credit enhancement compared to its peers.
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The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
May 2
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Freddie Mac is now offering to buy a new form of manufactured housing loan with terms similar to that of conventional mortgages from all eligible lenders, following a test run last year.
May 2
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DT Auto Owner Trust 2019-2 will issue five classes of notes, collateralized by $550 million in auto loans issued through company-owned "buy here-pay here" dealerships.
May 2
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After a six-month dry spell, securitization activity for marine cargo shipping container leases is starting to thaw out with a second deal this spring.
May 2
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Navient Corp. is returning to all fixed-rate collateral for its next securitization of refinanced private student loans issued via its Earnest affiliate to high-earning college graduate professionals.
May 1
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Freddie Mac will keep building on the financial reforms that produced profitability during conservatorship as broader government-sponsored enterprise proposals take shape, according to departing CEO Don Layton.
May 1
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The head of the central bank declined to provide more specifics on efforts to simplify the ban on banks’ proprietary trading.
May 1
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Fannie Mae is considering sharing more risk with the private sector to reduce future strain on its earnings from the implementation of the Current Expected Credit Loss accounting standard next year.
May 1
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Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”
April 30
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The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.
April 30
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The surge in originations during the first quarter more than offset a decline in demand for new leases.
April 30
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BX Trust 2019-IMC is a cash-out refinancing for an existing mortgage secured by 16 showrooms used exclusively for the home furniture and decor industry.
April 30
