Commercial banking

Issuance volume of asset-backed securities for the year through August 22, 2024

Increased demand from borrowers may hinge on Federal Reserve Chair Jerome Powell and his colleagues cutting interest rates this fall.

Total initial credit enhancement includes over-collateralization representing 8.95% of the initial pool balance, which is expected to build to a targeted level of 13.95%.

The 30-year fixed rate mortgage is lingering just shy of 6.5% level, which is not low enough to bring home purchasers back into the market, observers said.

Jasen D. Hanson is a shareholder in the Tax Controversy and Litigation Group at Chamberlain Hrdlicka in Atlanta. He helps high-net-worth individuals and closely held family entities resolve issues before the Internal Revenue Service and Department of Justice – Tax Division, from examination through appellate court review.

Ellen Rudolph is Cofounder and CEO of WellTheory. Launched in 2022, WellTheory was born out of Ellen's autoimmune journey and the systemic shortcomings of traditional healthcare she encountered along the way.

Aside from a $2 million penalty for violating the servicing laws, but the order included told Fay Servicing to pay consumers $3 million in redress and make a $2 million capital investment updating its servicing technology and compliance management systems.

Among the credit challenges, is the lack of amortization on the loans, and the loans are heavily concentrated among states and MSAs.

"Fed watchers will be parsing Powell's comments for signs that a 50bp rate cut is on the table for September," noted Lauren Saidel-Baker, an economist with ITR Economics. "However, the notoriously tight-lipped chair is unlikely to confirm this, making a 25bp cut the most likely outcome."

Mortgage professionals interviewed say there should be more focus on increasing housing supply.

The number of leveraged positions in Treasury futures has risen to an all-time high ahead of the central bank's annual economic symposium in Jackson Hole, Wyoming.

Sarah De La Cerda is the mental health clinic lead at MiSalud.

Cindy Blanco is the CEO of MiSalud.

Steve Durbin is Chief Executive of the Information Security Forum, an independent association dedicated to investigating, clarifying, and resolving key issues in information security and risk management by developing best practice methodologies, processes, and solutions that meet the business needs of its members. ISF membership comprises the Fortune 500 and Forbes 2000. LinkedIn: https://www.linkedin.com/in/stevedurbin/

Robb Lanham is the chief sales officer for HUB International, focusing specifically on the Private Client practice.

He is responsible for the personal insurance growth initiatives across North America and has developed strategic planning for new client acquisition for individuals, as well as for national and international wealth management firms.

Fora Financial Asset Securitization, 2024-1, is the first for Fora Financial since 2021, and its third securitization overall. Tier 2 saw the greatest shift in credit distributions among the six credit tiers since the last deal.

The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.

With over 25 years of dynamic leadership, Jagadish Kundu has been at the forefront of revolutionizing the insurance and financial services industry. From building domain solutions to driving digital transformation, his visionary approach has reshaped the landscape. Jagadish's achievements include pioneering the establishment of an insurance delivery center, managing a P&L and advising CXOs while leading a 2000-strong IT delivery team. As the global head, Jagadish has previously overseen a strategic business unit focused on implementation of COTS products in insurance & retirements industry and managed a $220 million USD global P&L. His expertise spans product development, product implementation, leveraging cutting-edge technologies like GenAI and data analytics.

Jennifer Fredericks is president of Women in Public Finance. Jennifer leads municipal bond and public finance discussions on fixed-income data and analytics provider, SOLVE.

Christopher Joles is the chief credit risk officer at Planet Home Lending