The online lender is taking advantage of the cheaper funding this could provide to refinance a $610 million facility that does not expire for another year.
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The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.
March 31
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That's notably shorter than previous deal backed by lines of credit to dealers, in which the collateral will revolve over a period of 10 years.
March 29
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An emerging gap between the government-sponsored enterprises on a Federal Housing Finance Agency scorecard item is prompting Fannie Mae to diversify its multifamily credit risk transfer efforts.
March 29
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The proposed rollback of underwriting requirements for small-dollar lenders could redefine a legal doctrine that governs rules affecting other companies as well.
March 29
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The captive-finance lender's focus on higher-FICO borrowers since 2016 has "manifested" in ABS loss and delinquency improvements.
March 29
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Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.
March 28
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The Federal Housing Finance Agency is planning on finalizing its proposed capital requirements for the government-sponsored enterprises this summer, the agency's acting director said Wednesday.
March 28
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After spinning off its infrastructure-related businesses in November, it is more focused on rail manufacturing and leasing; the new deal is backed by 7% of its fleet.
March 27
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While reinsurers are becoming more comfortable with the risk it is offloading, the GSE wants to maintain control of the workout process for loans that go bad.
March 27
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The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.
March 27
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Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.
March 27
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Hugh Frater loses the "interim" title, taking full control of the government-sponsored enterprise as Congress begins debating (again) the future of Fannie as well as Freddie Mac.
March 27
