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Western Benefits Group initiated contracts with student loan borrowers extracting monthly fees upfront, while claiming to negotiate debt consolidation through a supposed affiliation with the Department of Education, the CFPB said.
May 20 -
The 2024-5 series are secured by a pool of loans purchasing primary residences, with an original, cumulative LTV of 73.9%, and a debt-to-income ratio of 35.5%.
May 17 -
Citing auto sales as a potential leading indicator, observers say the labor market's health might be overstated, while auto ABS assets start to underperform.
May 17 -
An independent third-party company will provide the primary servicing, and the industry and equipment diversification levels are strong in the pool.
May 16 -
The current transaction will sell the most in securitized bonds since the 2022-1 series came to market with $850 million in notes.
May 16 -
Rocket is contributing all 5,455 closed-end loans in the collateral pool, and it is an 'above average' originator. One of the deal's positive highlights is that 27.0% of the assets by unpaid principal balance, were subject to third-party due diligence review.
May 15 -
Pricing guidance suggests the A1+ and F1+ notes are expected to yield 5.5% over the three-month interpolated yield curve, pricing at par. Yields are expected to vary from 5.49% to 5.42% on the AAA notes over three-month, interpolated yield curve.
May 15 -
The so-called core consumer price index climbed 0.3% from March, snapping a streak of three above-forecast readings which spurred concern that inflation was becoming entrenched.
May 15 -
Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.
May 14 -
As of Dec. 31, 2023, according to Moody's, the portfolio's delinquency rate was higher than the rating agency had observed in previous MBFS-sponsored transactions dating back to 2019, but it was still extremely low, at 1.46%.
May 14