The legislation, signed Monday by Gov. Rick Scott, authorizes 60- to 90-day loans of up to $1,000. It makes Florida the first state to pass a law designed to blunt the impact of the CFPB’s payday lending rule.
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The real estate investment trust is issuing $450 million of five-year notes backed by rights to excess servicing strips of Fannie Mae loans.
April 23
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The Tennessee community bank garnered a triple-A from two credit rating agencies for its inaugural securitization this month of loans refinancing the debt of borrowers with advanced degrees and high-paying jobs.
April 20
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Months after President Trump vowed that Wells Fargo would pay a severe penalty, the CFPB and OCC hit the bank with a $1 billion fine to settle claims it overcharged customers for auto insurance and home loans.
April 20
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The $340.5 million transaction, GoodGreen 2018-1, is backed by a mix of residential and commercial PACE assets in 42 California counties and 13 Florida counties.
April 20
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The notes are being issued from a a master trust collateralized by over $1.4 billion in corporate leases originated and serviced by Donlen Corp., which Hertz acquired in 2011.
April 19
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Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran.
April 19
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Ron Faris plans to retire as head of Ocwen Financial and pass on his position to former PHH Corp. CEO Glen Messina around the time Ocwen acquires PHH.
April 19
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Nearly four in five expect spreads to widen this summer, which is not good news for spec-grade U.S. companies that binged on borrowing levels over the last two years.
April 19
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The $185 million transaction features a higher exposure to borrowers entering bankruptcy than the sponsor's 2016 deal; it's also more seasoned, since it recycles 2014 collateral.
April 19
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The Senate voted Wednesday to block guidance issued by the Consumer Financial Protection Bureau in 2013 that was meant to stop discriminatory markups on indirect loans made by car dealers.
April 18
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The 860 loans backing its latest transaction, the $258.4 million Verus Securitization Trust, 2018-INV1, are all "business purpose investor loans,” according to S&P.
April 18
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The Wall Street giant's acquisition of the app maker Clarity Money is only one part of a long-term strategy to build a digital retail bank from the ground up.
April 17
