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After years of discussion among regulators, the Federal Reserve Board has approved changes to its CRA rules that will base compliance exams on where lending occurs rather than branch locations. The updates — set to take effect in January 2026 — also emphasize lending in lower-income areas as well as community development loans and investments.

Cat bonds are rising in popularity as their returns trounce those of virtually all other debt markets. This year, the securities are up about 17%, while investors in US Treasuries have lost money.

The transaction could be upsized to $1.25 billion, from $1 billion, but the 4.00% overcollateralization level is expected to remain constant through the life of the deal.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

After weathering a barrage of industry shifts, weaker office fundamentals also mean special servicing has increased on office CMBS pools.

Everything from housing to mergers and acquisitions are being upended, especially after 30-year US Treasury bond yields this week punched through 5% for the first time since 2007.

Both tranches have the same legal final maturity of Oct. 20, 2033, an initial (OC) of 26.00%, and an initial reserve of 0.50%.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

The Federal Reserve released its semiannual financial stability report highlighting elevated asset values, funding issues and pockets of leverage as top concerns.

Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.