licitation materials seeking bondholder approval to amend the Chase Credit Card Master Trust 1996-2, 1996-3 and 1999-3 credit card securitizations, which will allow the pooling of excess spread, are scheduled to be mailed by Proxy Agent Mellon Investor Services LLC on May 23. "If enacted, the Base Rate Pay Out Event would be calculated using the Portfolio Supplemented Yield which would include the Portfolio Yield plus a specified amount of shared excess finance charges," according to JPMorgan Securities research. At least 50% of note holders must approve the amendment.
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Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
2h ago -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
3h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
5h ago -
The bank is a top auto lender, with a managed portfolio of $7.1 million through December 2023, and has a strong servicing track record.
9h ago -
The initial protection amount, Moody's says, is 12.5% of the total reference pool and equals the principal amount of the rated and unrated issued notes.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16