RMBS

The Massachussetts Educational Financing Authority is issuing $162.23 million of private student loan revenue bonds; Fannie Mae obtains more front-end credit risk transfer; Canadian Tire Bank taps credit card market.

Appeals court justices appeared divided on whether the structure of the Consumer Financial Protection Bureau is constitutional during oral arguments in the PHH v. CFPB case on Wednesday.

President Trump’s budget would reduce funds to the Consumer Finance Protection Bureau, cut spending for several programs aimed at providing financial services and resources in underserved communities, and eliminate a fund designed to help regulators unwind a failing megabank.

Lenders are objecting to the Trump administration's proposed $30 million fee designed to partially fund upgrades to the Federal Housing Administration.

Bayview Asset Management is marketing yet another $218 million of bonds backed by re-performing mortgages acquired last year from former subprime HELOC lender CitiFinancial Credit Corp., according to rating agency presale reports

Nationstar Mortgage is issuing its seventh securitization of nonperforming reverse mortgages.

JP Morgan Chase is marketing another offering of bonds backed by a mix of conforming and jumbo residential mortgages, according to Moody’s Investors Service.

State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.

As financial institutions look closer at the increasingly detailed consumer credit data available, they are learning consumers are more apt to pay off personal loans before mortgages, auto loans and credit cards

S&P and DBRS have diverged on rating the senior notes in a $175.26 million securitization of private student-loan refinancings from Earnest Operations. Also, Comenity Bank has a new private-label card transaction through its World Financial master trust.