Finance

Three of the note classes will issue deferrable notes, where the trust can defer interest payments to the notes under certain circumstances.

As big banks pull back on lending to oil and gas drillers, some US energy companies are relying on a novel kind of bond to get the financing they need.

The closure of its nationwide retail business — which followed the shuttering of its consumer direct business in Q2 — pushed the Florida bank into a $1.4 million loss for the most recent quarter.

Some 2.9% of the pool—comprised of 1,705 loans—was 30 days delinquent, and 68.3% of the loans had experienced one or more delinquencies in the past 24 months.

Stocks slid along with U.S. equity futures as disappointing results from tech giants soured sentiment and marred a tentative recovery in equities. Treasury yields rose.

The consumer lending fintech held about one-third of its loan originations on its balance sheet and fortified its deposit base this quarter.

Delinquencies in the 30-day-plus cohort have not produced higher gross losses, and recoveries in recent static pool vintages are retreating to historical averages.

The economy grew at a solid pace in the third quarter, marking the first advance this year as consumers proved resilient amid widespread inflation and the Fed's hikes.

The 2022-C deal has a weaker borrower profile among loans with 61- to 72-month terms, loan terms that typically have higher loss frequency and defaults.

The worst Treasury rout in decades has room to run as the Fed unreservedly makes fighting inflation its top priority, according to JPMorgan Asset Management.

Reduced-rate loans, originated through third-party lenders, comprise a majority of the collateral in the transaction, at 58.3%.

Profits and losses aren't usually thought of as a consideration for central banks, but rapidly mounting red ink at the Federal Reserve and many peers risks becoming more than just an accounting oddity.

There's a "quite high" probability that the U.S. central bank will need to cut rates close to zero in the next three to five years, says Steven Major, HSBC's head of fixed income research.

Some 59.5% of the pool comes from Marriott Vacation Club, up substantially from 45.0% in 2022-1. The loans have stronger performance track records than other brands, except for Westin.

Junk bond sales are falling at an unprecedented rate globally as interest rates rise, a double blow to riskier companies in need of financing in the next few years.

In a week where homebuilding stocks were faced with surging U.S. Treasury yields and data showing weakening demand for homes, one analyst is throwing in the towel on the sector.

That's left mortgage servicing rights investors with fewer concerns about runoff, but buyers have less in the way of recapture opportunities.

The addition of investment bank Capstone Partners and the wider geographic footprint that resulted from the acquisition of TCF Financial helped drive a 58% increase in net income during the third quarter.

U.S. Treasuries tumbled Friday, driving most benchmark yields to the highest levels since 2007, as policy makers signaled their determination to keep raising rates.

The Cleveland bank expects to lose about $25 million in fee income per quarter as a result of recent changes to its overdraft policies. CEO Chris Gorman said Key plans to compensate by expanding its customer base.