The pool consists of 16,272 contracts, with an average contract balance of $93,502. On a weighted average (WA) basis, the contracts have an original term of 55.7 months.
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REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.
September 4 -
Mellecker, a former Goldman MD, will focus on a range of securitizations, structured private credit deals and private placements in its structured finance and structured private credit practice.
September 4 -
Steady purchase demand still led to a positive August according to the Mortgage Bankers Association.
September 4 -
The sale of the $318 million-asset portfolio comes five weeks after the Greenville, South Carolina-based company agreed to sell its investment advisory unit.
September 3 -
More than 91.7% of the portfolio loans were extended to dentists, general medical practitioners or veterinary surgeons—considered prime obligors.
September 3
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Only loans from the Achieve Personal Loan product line are in the current collateral pool.
August 30 -
Observers and investors weigh in on how rate cuts may shift pricing dynamics for CLO tranches.
August 30 -
Home Loan bank executives said Congress would have to pass a law for the system to increase its affordable housing contribution above 10% of earnings.
August 30 -
Overcollateralization, subordination of the junior notes, a non-declining cash reserve account and excess spread provide credit enhancement to the notes.
August 29 -
Since 2019, the portfolio has recorded five defaults—driven by bankruptcies—and each was resolved with a 100% recovery rate, Fitch said.
August 29 -
Recent rate movements have failed to result in significant purchase growth, but refinances are providing lenders some lift.
August 29 -
The Federal Reserve finalized its capital requirements for large banks Wednesday based on June's stress test outcomes.
August 28