Former Morgan Stanley ABS pro Carolyn Morrill has started in her position as head of ABS syndicate at ABN AMRO, where she will be a managing director. Morrill, a longtime veteran of ABS syndicate and trading, is the first piece in what is expected to be a fairly large ramp up for its U.S. ABS group (as well as the Capital Markets group as a whole), following the defection of former ABS group head John Mullen, who resigned in early May. Morrill left her position at Morgan Stanley last fall.
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Loans for hotels and motels, except those that have casinos, account for 19.43% of the pool balance, the largest portion.
3h ago -
Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
September 18 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
Some 63.8% of the assets in the pool are modified loans, and for 92.6% of those loans, the modifications happened more than two years ago.
September 17 -
New-home loan activity rose 1% in August year over year, but applications fell 6% from July.
September 16