Commercial banking

In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.

Subordination provides credit enhancement to the notes, as well as deposits in the reserve and redemption accounts.

The recalibration came amid the best two-day rally for short-end Treasuries since January, following the central bank's latest policy meeting on Wednesday.

Jeffery Mayger is a cybersecurity consultant with industry engagements including utilities, oil/gas, defense and financial services organizations. He has over 20 years of experience and has held senior leadership positions including Chief Information Security Officer (CISO) for global mining company Sibelco. His Information Security background includes designations as Certified Information Security Professional (CISSP), Certified SCADA Security Architect (CSSA), and Payment Card Industry Professional (PCIP). 

Chris Andrew is a counter fraud subject matter expert at Mind Foundry. He brings over 20 years of financial services experience delivering AI and analytics-based solutions in fraud, financial crime and automation across the insurance and banking industries. Chris works with insurance clients to deliver state-of-the-art AI solutions that help tackle high-stakes problems, focusing on human outcomes and the long-term impact of AI interventions.

Virág Blazsek is a lecturer in commercial, corporate and banking law, University of Leeds School of Law, Leeds, United Kingdom.

Issuance volume of asset-backed securities for the year through May 2, 2024

Underwriting league tables of asset-backed securities through May 2, 2024

The capital structure features initial exchangeable notes among the class A, mezzanine and B1 notes. The super senior and senior support tranches will repay noteholders on a pro-rata basis.

The company's branches and loan officers will transition to ML Mortgage but operations staff are not part of the deal.

Ari Brojde is the co-founder and CEO of Estateably, an estate, trust, and incapacity accounting & administration software used by over 1,000 firms across North America. He is an estate planning expert with a Certificate in Trust and Estate Administration and is an executor advisor designate of the Canadian Institute of Certified Executor Advisors.

Note payments are linked to two tranched credit default swap (CDS) transactions, one related to the reference obligation between the issuer and SoFi Bank and SoFi Lending and the Issuer.

Donna Bungard is a senior marketing accessibility program manager at Indeed. Donna holds international certifications in accessibility and management, and is pursuing a MS in Global Technology and Development. She is part of the larger disabled community. At Indeed, Donna helps teams infuse disability inclusion into the DNA of all we do.

The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.

During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.

House Republicans held a subcommittee hearing on reforming bank merger M&A, laying the groundwork to counter Biden administration efforts to make it more difficult for mergers to be approved.

The fixed, tax-exempt notes have about 137.5% in expected senior bond parity and 124.1% in subordinate bond parity levels.