The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials.
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The White House has officially nominated Mark Calabria as the next director of the Federal Housing Finance Agency.
January 8
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The deal, dubbed Hercules Capital Funding Trust 2019-1, comes just two months after the business development company completed a $200 million transaction.
January 8
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Automating the loan application process is a potentially game-changing development that could put more car shoppers in control of which bank or credit union finances their purchase.
January 7
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Steven Mastrovich joins the firm a week after the departure of partner and CRE/CLO specialist Steven Kolyer for Sidley Austin.
January 7
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Most of the properties were previously securitized in various conduit transactions in 2014 and 2015; they are now being bundled into a single transaction that returns $107.7 million of equity to the sponsor.
January 7
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As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages.
January 4
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Borrowers and financial institutions may be feeling the strain from reduced operations at the FHA and IRS, which has suspended the release of certain income documentation during the budget impasse.
January 4
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New Residential acquired its latest pool of loans from five servicers, garnering a rare pledge of P&I advances on defaulted mortgages.
January 4
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Loans from the top two originators, loan Depot and TIAA FSB (FKA Everbank), were purchased in bulk based on the respective originator’s guidelines, according to Kroll Bond Rating Agency.
January 4
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The global asset manager is sponsoring its first post-crisis CLO in a €409.8 million transaction that priced through Barclays on Monday.
January 3
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Mr. Cooper Group is buying servicing rights on $24 billion in mortgages, a subservicing contract for an additional $24 billion in home loans and the Seterus platform from IBM.
January 3
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The collateral for GMCAR Trust 2019-1 features a higher weighted average borrower FICO than any prior GM Financial deal; it also sports a lower projected cumulative net losses from Fitch Ratings.
January 3
