The biggest impact may be to focus the administration’s efforts on selecting a nominee to succeed Director Mel Watt, whose term ends in January.
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Moody’s expects losses on Drive Auto Receivables Trust 2018-4 to reach 25% of the original balance over the life of the deal, down from 26% for its prior deal.
September 7
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The GSE recently transferred $166 million portion of risk on $11.1 billion of loans via contracts with seven reinsurers and insurers; it plans to come to market two or three time a year going forward.
September 6
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The proposal by Reps. Jeb Hensarling and John Delaney is a sign that a bipartisan consensus is building on how to move on from Fannie and Freddie.
September 6
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The real estate investment trust is securitizing a $225 million mortgage on a portfolio of 10 hotels owned by Taylor Woods and Howard Wu, founders of Urban Commons.
September 6
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The departing House Financial Services chair unveiled a bill with Democrat John Delaney to repeal Fannie and Freddie's charters and establish Ginnie Mae as a backstop.
September 6
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Investor appetite for deeply subordinated debt is increasing even as the industry starts to consolidate; problems at Honor Finance demonstrate the limits of relying on overcollateralization to offset losses.
September 6
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About 8.5% of loans backing the $256.2 million transaction were reassigned from a 2015 deal; this boosted the weighted average seasoning to seven months from one month for ACA's prior deal.
September 5
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Freddie Mac is promoting Executive Vice President David Brickman to president and will consider him among possible candidates to be the agency's next CEO after Don Layton retires next year.
September 5
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More than 88% of contracts in the $800 million transaction have terms of less than 40 months; Fitch points to the increased the use of subvention at Toyota dealerships.
September 5
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Brass No. 7 is Accord's ninth overall securitization of prime mortgages for owner-occupied homes and the second to feature a revolving period.
September 5
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Scott Powell, the CEO of Santander Holdings USA, has spent years contending with a host of regulatory problems. He outlined a long-range vision that includes a branch-focused retail push and possible acquisitions.
September 4
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The agencies had proposed revisions designed to make compliance less complex, but banks have expressed concern that the plan could have the opposite effect.
September 4
