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The concentration of loans and CLOs in a small number of banks "may result in pockets of vulnerability," the report stated.

Despite rising delinquency levels, borrower performance on the underlying mortgages in GSE credit-risk transfer securitizations is strong enough to warrant ratings upgrades to more than half of nearly 1,200 outstanding note classes.

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.

The CFPB is giving trade groups and consumer advocates another three months to comment on its proposal to change what data is collected under the Home Mortgage Disclosure Act.

The legislation, which passed a key test in the state Senate on Wednesday, is the product of a compromise between consumer advocates and some lenders.

The global alternative asset manager is buying a majority stake in the investment advisory of CM Finance, which lends and makes equity investments in middle-market companies.

The $354.9 million Battery Park CLO Ltd. is a broadly syndicated loan portfolio that is the first “CLO 2.0” deal sponsored by Goldman Sachs Asset Management (GSAM).

The Italian bank is reportedly close to completing the sale to Cerberus Capital Management, Bank of America and Illimity Bank SpA.

The deal is backed by an underlying pool of 1,724 fixed-rate mortgages originated by Blackstone-owned Finance of America Mortgage.

The refinance share of mortgage applications climbed to the highest level since January 2018 as the average 30-year fixed interest rate continued tumbling, according to the Mortgage Bankers Association.