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Risk management and technology systems at the Federal Housing Administration lag decades behind Fannie Mae and Freddie Mac and desperately need to be revamped, according to a top official at HUD.
June 18
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New securitizations backed by reverse mortgages are now at a low not seen in two years, signaling that higher volumes seen in recent months may be tapering off.
June 18
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Like the sponsor's February transaction, this one is backed by midsize and larger business jets, a volatile asset class; it amortizes more slowly and has looser restrictions on extending the terms of leases and loans.
June 18
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President Donald Trump has chosen Kathy Kraninger, a little-known White House budget aide, as director of the Consumer Financial Protection Bureau, an administration official said.
June 16
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The $100 million Series 2018-1 notes will rank on an equal basis with the $900 million of notes Coinstar issued from the same master trust in May 2017, all are collateralized by nearly 20,000 coin-counting kiosks located in major retail stores.
June 15
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In Santander Consumer USA's third subprime shelf offering of 2018, new cars represent 55.8% of the collateral. In previous deals dating to 2013 new-car concentrations did not exceed 40.9%.
June 15
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The borrowers in the pool of collateral have lower FICO scores, and the size of a prefunding account has risen to 25% of the initial balance from 16% for Marriott's prior deal, completed in August 2017.
June 15
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Five classes of notes will be issued in the transaction, BBVA Consumer Auto 2018-1, which is backed by a pool of well-seasoned loans on new and used cars that will revolve for an initial period of 1.5 years.
June 14
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CLO securities pay out interest pegged to the three-month London interbank offered rate, but loans used as collateral are increasingly switching to one-month Libor and the spread between the two benchmarks has widened significantly.
June 14
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The $278.3 million RCMF 2018-FL2 also has unusually heavy exposure to apartment buildings, offices and industrial properties that are either vacant or have low occupancy levels, according to Kroll Bond Rating Agency.
June 14
