Commercial banking

The turnaround was due to a $42 million positive servicing mark. Even with the operating loss, it beat estimates.

Rich-world peers from Italy to France and the UK are in the spotlight as higher interest rates impact debt levels exceeding 100% of annual output. Stakes are even higher for capital-hungry developing nations.

A Texas judge dealt the Consumer Financial Protection Bureau a setback that has changed the bureau's calculus for furthering its near-term agenda. But an ambitious Supreme Court could also call all of the bureau's final rules into question.

Synchrony has a lower credit quality than most other bank sponsors of credit card securitization trusts in the U.S., but the average account balance is lower, too.

Two bank trade groups have asked the Consumer Financial Protection Bureau to relieve all banks from complying with its small-business lending rule until after the U.S. Supreme Court decides whether the bureau's funding is constitutional.

Verdant will service the loans underpinning the bonds, and GreatAmerica Portfolio Services Group is on the deal as primary servicer of the portfolio other than late-stage delinquent contracts.

But a Zillow economist argues that there's plenty of evidence suggesting strong GDP and job growth had more to do with the increase than what Fitch did.

Todor Penev is SVP, commercial analytics practice leader, Aon.

Janet Faircloth is SVP of the health innovation team at Aon.

Melissa Bailey is a corporate transactional lawyer at Brooks Pierce in Raleigh, North Carolina, where she represents clients in general business and transactional matters, entity formation, securities, and mergers and acquisitions. She can be reached at mbailey@brookspierce.com.

Mark Davidson is a partner at the law firm Brooks Pierce in Greensboro, North Carolina, where he focuses on a variety of business transactions, including mergers and acquisitions, joint ventures, private equity, organization, governance, debt and equity financing, executive compensation, partnership and corporate taxation, and management/ownership succession. He can be reached at mdavidson@brookspierce.com.

The yield on 30-year securities has climbed almost 25 basis points over the past three sessions, returning it to levels last seen in mid-November when inflation was still above 7%, more than double the current rate.

Underlying loans have an average balance of $25,853, which is in line with balances on previous deals. On a weighted average (WA) basis, the deal's loan-to-value on FCAT 2023-3 was 119.4%.

Chris Champlin is Vice President of Digital Sales at EMPLOYERS  and Cerity, specialty providers of workers' compensation insurance focused on select, small businesses engaged in low- to medium-hazard industries.

Pamela Mattsson is SVP of People and Organizational Development at Outreach. Before Outreach, Pamela was the Global Head of Executive Development for Amazon. Pamela is a seasoned executive coach, dynamic facilitator, course designer, and innovative leader in Executive Development and Organizational Culture.

The $35 million, class A-1 notes on the current deal have total initial credit enhancement of 7.50%, compared with 8.80% on the class A notes on the CRVNA 2023-P2.

The bump in issuance showcases the rising borrowing needs that contributed to Tuesday's decision by Fitch Ratings to lower the sovereign U.S. credit rating by one level, to AA+.

The deal also has a reserve account with an initial balance of $8.0 million at closing, representing 2.0% of the initial bond balance.

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.

William Marr is responsible for delivering Welton's investment solutions to the wealth management community, including brokerage houses, RIAs, private banks and family offices.

In previous roles he led due diligence and allocated to hedge funds and CTAs as Global Head of Hedge Fund Research at Merrill Lynch Wealth Management. He also headed Alternative Investments at Zurich-based bank Julius Baer and Boston-based State Street Global Advisors. Most recently he founded and managed Granite Street Capital, a consultancy focused on developing and implementing growth strategies for alternative investment managers.