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Other financial regulators have been examining AI in underwriting because potential biases or otherwise faulty criteria could lead to bad outcomes, while agencies including the Federal Trade Commission are looking into non-financial companies.
May 9 -
The lender lost a battle to toss the lawsuit, but convinced a judge to compel the regulator to produce data on its competitors.
May 9 -
The securitization amount is smaller than an earlier transaction, and its AAA notes are expected to price at wider spreads than the AAA notes on the 2024-A series.
May 8 -
Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
May 8 -
Macro, credit and securitized products and equities will each contribute 25% to 30% of the growth, with the remaining 15% coming from wealth management.
May 8 -
Notes A, B and C benefit from credit enhancement amounting to 33.3%, 16.2% and 7.0%, and the deal's capital structure will repay investors on a combined pro-rata and sequential basis.
May 7 -
Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.
May 7 -
Lenders are still absorbing losses and placing loans on watchlists, while borrowers have been extending loans in hopes that values will rebound.
May 7 -
Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
May 7 -
The top five issuers in the pool represent 4.73% of the pool, which is noticeably more diversified compared with the 12.50% concentration, according to Fitch's stressed portfolio at initial expected matrix point.
May 7