Loan criteria such as credit scores, loan types and loan-to-value ratios are all weaker than those included in 2022 deals, Fitch said.
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The collateral has a high principal payment rate, 63.1%, for the eleven months ended November 2023. It also had payment rates of 66.7% and 59.0% for the twelve-month averages for 2022 and 2021, respectively.
January 24 -
The private equity firm Caryle is buying a $415 million student loan portfolio from Truist Financial. It's also investing in a nonbank student lender called Monogram that works with banks and credit unions.
January 24 -
Banks and Congressmen alike see U.S. regulators' version of Basel III as overly stringent for the securitization market.
January 24 -
The class A notes to price between 150-160 basis points over the three-month interpolated yield curve. The class C notes might also price within a range of 300-325 bps over the 3M I-Curve.
January 23 -
The AAA ratings also stem from a 5.5% base-case loss rate, a 22.5% base-case payment rate, a 15.0% base-case yield, and a 3.0% purchase rate assumption.
January 23
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Its January forecast reverses the call first made in April 2022 that the U.S. economy would slip into an extended downturn.
January 22 -
16.6 million former and current Loandepot customers had their data leaked, the lender and servicer announced Monday.
January 22 -
FCALT 2024A has a lower ratio of leases with an original term of 48 months, at 8.17%, compared with 6.85% on FCALT 2023B.
January 22 -
Bank regulators Friday said the existing laws governing safety and soundness and fair lending are adequate to address risks posed by artificial intelligence, noting that while AI may be used to inform lending decisions, banks are ultimately responsible for compliance.
January 19 -
A common concern in housing finance reactions has been the lack of accommodation for strategies routinely used to manage credit, rate and liquidity exposures.
January 19 -
A substantial majority of obligors have investment-grade credit qualities and that, payments from the U.S. government account for the largest concentration, 26.75%.
January 19 -
Credit to the notes is bolstered by a cash reserve account, funded at closing, that equals 1.00% of the initial discounted contract balance, as well as annual excess spread amounting to 1.76%
January 18