The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.
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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
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Greenworks CEO Jessica Bailey said execution was good enough that it made economic sense; the company also wanted an early reading from rating agencies and investors.
February 26
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It has obtained a $1.4 billion mortgage from four banks on a portfolio of 27 buildings that were previously securitized in a 2016 transaction, according to rating agency reports.
February 26
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Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.
February 26
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So far, consumers have not had much voice in the discussion of a suitable replacement for the benchmark rate; lenders and servicers want to limit any harm, and their liability.
February 26
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Golub Capital Partners' first CLO of 2018 is pooling small and medium-size enterprise loans into a $903.8 million portfolio, more than twice the size of its previous middle-market CLO.
February 25
