The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.
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It may not signal a recession, but structured finance pros are still preparing for a more risk-off environment.
January 16
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Physicians account for 28.8% of borrowers in the collateral pool, up from 22% for SoFi's previous student loan securitization, according to Moody's Investors Service. Notably, fewer of these, 4.2% versus 7.8%, are in residency programs.
January 16
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Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.
January 16
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The Japan Financial Services Agency is considering increasing capital requirements for holdings of securitizations if the sponsors do not have "skin in game."
January 16
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The deal is the first credt card securitization by anyone in 2019 and features two-year floating-rate notes from RBC's master trust.
January 15
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A few took advantage of deep discounts to scoop up collateral for new deals on the cheap; others swapped out some of their weakest credits for more highly rated loans.
January 15
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Citigroup's residential mortgage originations declined 23% and its home-loan revenue dropped by 35% year-over-year in the fourth quarter of 2018, as the company continued to distance itself from home loans.
January 14
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Loans in commercial mortgage-backed securities originated after 2009 by nonbank lenders have a significantly higher default rate than those originated by banks, a Fitch Ratings report said.
January 14
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Many federal agencies have been closed for more than three weeks, making it the longest shutdown in U.S. history. With no end in sight, here's how it's affecting banks, credit unions and mortgage lenders.
January 13
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The tricky part: raising awareness without appearing to take advantage of borrowers at a time when agencies like the SBA are out of commission.
January 11
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A lapse in rental-assistance funding, an understaffed FHA and other effects of the government shutdown are causing real harm to families, said the chair of the House Financial Services Committee.
January 11
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That's in contrast with the sponsor's prior deal, completed in December, which tested the waters for mortgage bonds backed exclusively by second liens.
January 11
