Research analyst Glenn Costello has left Merrill Lynch to become the co-head at the RMBS group at Fitch Ratings. Costello was hired in July 2000 to cover Merrill's real estate ABS. He will be reporting to Group Managing Director Gloria Aviotti who oversees the RMBS and CDO groups at the rating agency. Joanne Sokolowski currently heads the RMBS group at Fitch. Additionally, Costello will not be a featured panelist on the Real Estate ABS Researcher Roundtable at next week's IMN ABS West conference. However, he will still be session facilitator for the Developments in the Manufactured Housing Sector panel.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
There are two series, 2024-1 and 2024-2, that have revolving periods—three for the 2024-1 and five for the 2024-2—during which noteholders will not receive any principal.
March 28 -
The trust employs a 24-month revolving period. There is an increased risk that collateral quality could deteriorate as the transaction evolves with new collateral.
March 27 -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27