Moody's Investors Service plans to begin publishing Transaction Governance Assessments for rated, public credit-card securitizations beginning this week. In addition to providing commentary and opinion regarding the level of oversight an issuer applies to its transactions, the assessments outline processes that minimize the risk of errors in calculations, errors in cashflow allocations and mismanagement of funds and assets, according to Moody's. The assessments will be included in new issue reports and pre-sale reports issued by Moody's. Moody's expects to expand this initiative to other asset types within the ABS and RMBS markets.
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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.
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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.
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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