The as-yet unsized Volta VI is backed by a tariff on all users of electricity in the nation; it is designed to help EDP, the largest utility, recover the costs of supporting renewable electricity.
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The bank, which purchases loans from Mosaic, is contributing an unspecified amount of collateral for the $317 million deal; it's also the underwriter and risk retention holder, and appears to be behind the unusual structure.
June 22
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The Consumer Financial Protection Bureau's structure is an infringement on the authority of the executive branch, a New York federal judge said Thursday.
June 21
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A senior Treasury department official said it's an "adapt or die" situation for regulators and financial firms in the midst of a growing fintech space.
June 21
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It's the sponsor's first transaction since risk retention rules took effect; proceeds from the new five-year and 10-year notes will be used to repay note issued from the master trust in 2010.
June 21
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The $470 million transaction has some features rarely seen now that the market for bridge loan securitization has been rehabilitated, including a "blind ramp" and a "blind reinvestment" period.
June 21
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Courts have validated the legal theory behind punishing lenders for unintentional discrimination, but the Trump administration has shown interest in revising the Obama-era policy.
June 20
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Adding to the layering of risks, the majority of the loans (84%) originally paid only interest, and no principal, at the time of origination; however, all 506 loans have passed their initial, fixed-rate period, eliminating some potential for reset shock.
June 20
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Ginnie Mae is looking to start a pilot program to securitize digital mortgages as early as 2019, but issuers would not be able to commingle loans using traditional paper files in those deals.
June 20
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It's another example of what appears to be tailoring tranches to meet the tenor and yield requirements of specific investors; the deal, GMS Euro CLO 2014-1, was also upsized to €508 million from €368.3 million originally.
June 20
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LTC Global is one of the market leaders in a "relatively new" esoteric asset class of acquiring and financing insurance commission assets of life and healthcare insurance products, says DBRS.
June 19
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The real estate investment trust, along with co-borrower Stellar Management, obtained a $675 million mortgage from four banks; they are cashing out $113 million of equity in the process.
June 19
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The groups applauded a proposal to establish minimum GSE capital requirements, but called for more immediate steps to release the companies from conservatorship.
June 19
