The Latest

The Biden administration once again extended the pause on student loan payments enacted to help borrowers during the COVID-19 pandemic, this time through the end of August.

The prospect of aggressive tightening has already led to a global bond rout this year, and the latest move in market bets follows comments of continued tightening.

The Consumer Financial Protection Bureau argues borrowers in the case had a right to answers even if the inquiries were origination related and foreclosure litigation was pending.

Half of the loans were originated prior to the onset of the COVID-19 pandemic, and mainly in Q1 2020, while classes A and B have interest-only portions.

While the government is so far making payments, some have been delayed by banks doing lengthy checks that they aren’t breaching any restrictions.

Secured by a single Morgan Stanley first-lien mortgage, the SFR is the largest deal since the program priced its $2 billion transaction in July 2021.

The core function of the Federal Home Loan Bank System — advances to member institutions — plummeted 20% last year to $350 billion, its lowest level in 15 years. That erosion of purpose is emboldening critics, who say the Home Loan banks need to change or face irrelevance.

Consumer advocates and fintechs say the traditional credit score and lending systems that use it are murky and perpetuate bias. FICO’s leader points out that new FICO scores use expanded data sets, just as fintechs do.

Policy makers differ on what the neutral rate -- the rate that neither restricts nor spurs economic growth -- is and couch it in terms that don’t take account of the current high inflation environment.

Arivo is being structured as a Rule 144A deal and uses a senior-subordinate capital structure, and all classes benefit from initial credit enhancement.