Banking

The government-related market's push has intensified efforts to draw up classic FICO comparisons or set up interim rating policies pending more data.

CEO Lynn Harton said his Greenville, South Carolina-based bank struggled the past year to keep Navitas from overshooting the limit the bank set for its expanding portfolio, about 10% of total loans.

Although the follow-up securitization also issued three classes of notes, the deal amount is also much smaller than the first deal, with raised $217.2 million.

Canyon ABF Partners will provide capital to specialty lenders and regional banks and be a rapid acquisition and structuring vehicle for primary and secondary loans on a range of assets.

The deal includes a three-year revolving period when collections can be used to buy new collateral if it meets eligibility and reinvestment criteria.

While the move is seen in a positive light, lenders and Trump administration officials are still angling to raise the loan-size limit within the agency's flagship 7(a) program.

Housing advocates and compliance firms are suing to block a rule from the Consumer Financial Protection Bureau that they say guts the Equal Credit Opportunity Act.

A revolving pool of business loans and merchant advances secures the deal, and the revolving period ends on May 31, 2029, about 36 months after the initial closing date.

Lenders pulled back on commercial real estate loans in 2023, as high interest rates put pressure on property values. They're now returning to the sector, and the renewed competition is prompting a pricing war.

The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.

As lenders explore the adoption of FICO 10T and VantageScore 4.0, setbacks and data limitations remain.

The move comes about a year after rising delinquency levels prompted SBA to raise lender fees and tightened underwriting standards in its flagship 7(a) program.

Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.

Standard & Poor's found modeled foreclosure frequency and loss coverage to be in similar ranges as classic FICO but showed concern about potential bias.

House lawmakers modified a ban on big-money investors from purchasing single-family homes, broadening the exemptions for build-to-rent properties and eliminating requirements in a Senate version of the bill that affected investors divest their holdings.

Consumer Credit Portfolio II is not a securitization, but Groundfloor is known for two deferred-pay residential transition loan ABS that are paying investors higher premiums than rated RTLs.

The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.

The transaction comes to market with initial hard credit enhancement levels of 33.60%, 22.90%, 13.50% and 8.65% across the subordinate tranches, higher than the previous deal.

Kapitus funds receivables through two revolving securitizations totaling $575 million, and a $230.1 million warehouse line of credit from Truist, which matures in June 2027.

Borrowers in the pool had a non-zero weighted average credit score of 608, with a 112.12% loan-to-value (LTV) ratio.