A federal appeals court handed a major victory — and a significant defeat — to the CFPB by upholding its constitutional structure while also slapping down the agency's practice of making new interpretations of law through enforcement actions.
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Avoca CLO V was issued only the second default rating of a subordinate global CLO in the last four years, the result of an unpaid subordinate tranche in an early deal liquidation by manager KKR.
February 28
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“Why we think we know better or how to protect consumers in your state surprises me,” acting CFPB Director Mick Mulvaney told a group of state attorneys general. “I don’t think we’ll being do much of that anymore.”
February 28
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Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.
February 28
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Participants at the Structured Finance Industry Group conference in Las Vegas say that future deals could be linked to the performance of jumbo, as well as conforming loans.
February 28
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Despite riskier terms, rising delinquencies and falling used car values, investors keep buying bonds backed by prime and subprime auto loans and leases.
February 28
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From accelerating its subservicing transformation to overcoming regulatory obstacles, here's a look at three reasons behind Ocwen Financial Corp.'s $360 million acquisition of PHH Corp.
February 27
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Credit support on the senior tranche of the $800 million transaction is 19.25%, up 250 basis points on the comparable tranche of the sponsor's previous deal to offset the impact of falling used car prices.
February 27
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Acting commissioner Dana Wade said the agency is "vigilantly" watching whether it needs to take action on PACE assessments placed on mortgages after they are endorsed by the agency.
February 27
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Comptroller of the Currency Joseph Otting said reform of Community Reinvestment Act regulations is a "key element" of how regulators aim to recalibrate rules a decade after the financial crisis.
February 27
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The DC Circuirt Court's ruling that CLO managers are exempt from skin in the game rules disappointed some investors, who are willing to pay a premium for deals in which their interests are aligned.
February 27
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Verizon Wireless' sixth overall securitization of device-payment plans includes more subprime borrowers, but delinquencies remain low in its managed portfolio.
February 27
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Panels account for just 15% to 20% of the total cost of residential installations, so the impact on demand is going to be relatively muted; utility-scale installations will be hit harder.
February 27
