Commercial banking

Both loan volumes and interest rates came in mostly flat, but the jumbo average ran ahead of the conforming for the second week in a row, the Mortgage Bankers Association said.

The GFORT 2023-1 series added an extra $250 million class, with notes to be priced over the three-month SOFR. Other elements, such as collateral and credit enhancement, are almost exactly alike.

Newer cars account for the highest percentage of the collateral pool over a two-year period, while FICO and proprietary credit scores are also up a few ticks.

Annabel Burba is a reporting associate for National Mortgage News.

Fee hikes at the government-sponsored enterprises are one remedy, the government-sponsored enterprise's regulator noted in its annual report to Congress.

Donna Gambrell was director of the U.S. Department of the Treasury's CDFI Fund from 2007 to 2013. She is currently president and CEO of Appalachian Community Capital, an intermediary and certified CDFI.

Annie Donovan was director of the U.S. Department of the Treasury's CDFI Fund from 2014 to 2018. She is currently president and CEO of Raza Development Fund, a certified CDFI. Twitter: @ADonovanRDF.

Cody Dong leads MSCI's ESG and climate research for the insurance sector. He also sits on the committee that oversees MSCI ESG Ratings' methodology, quality and model integrity. Prior to joining MSCI, Cody was a strategy and business-development analyst at Alcoa. He also has experience as a sell-side analyst covering Chinese insurance and banking equities. Cody holds a bachelor's degree in business management from Ohio State University and a master's in finance from University of Cincinnati. He is a CFA® Charterholder and holds the designation of Financial Risk Manager (FRM).

Arne Philipp Klug is MSCI's biodiversity research director, overseeing thematic research on biodiversity and natural capital. He engages with investors and key stakeholders to help clients set and prioritize their investment objectives for biodiversity. Arne previously led MSCI'S ESG research on the transportation sector. Prior to joining MSCI, he worked as an ESG analyst and account manager at Sustainalytics in Frankfurt and Toronto. Arne holds a master's degree in communications science, political economics and Hispanic studies from the University of Münster in Germany.

Unibail-Rodamco-Westfield is offering to exchange any and all of its €1.25 billion ($1.37 billion) notes, which currently pay a coupon of 2.125%, with a new bond paying 7.25% and a cash amount.

Partners in ABS practice also discuss how CLOs face final bridge to cross as Libor transition approaches the finish line.

Alison Simons is the founder of Simons Marketing. She started in accounting marketing in 2004 as the head of marketing for a regional CPA firm. In 2013 she became an entrepreneur, and Simons Marketing was born. Simons Marketing develops and executes marketing strategies that help CPA firms reach their goals. She is a regular contributor and presenter with MassCPAs, ProVisors, AAM and is part of the BDO Alliance as a Business Resource Network member.

Peter Henderson, CPA, is a partner at Top 100 Firm Moss Adams who has worked in public accounting since 2008. He specializes in federal and state tax credits and incentives. He has degrees in both accounting and engineering, and extensive experience in mechanical and high-tech industries, including aerospace, defense, space-tech, green energy, automotive, manufacturing, and hardware and software development.

NALT 2023-B will operate with several forms of credit enhancement, including initial hard credit enhancement of 22.91%, and initial overcollateralization (OC) of 22.51%.

Angie O'Leary is head of Wealth Planning at RBC Wealth Management–U.S.

The Consumer Financial Protection Bureau decided to move forward with its proposal based on feedback to an earlier request for input.

Similar to previous deals, John Deere has initial hard credit enhancement of 3.50%, analysts said, adding that initial spread is expected to be 2.00% per annum.

Robert Flock is vice president in the American Bankers Association's Office of Strategic Engagement.

Ben Milne is the current founder and CEO of Brale, which helps institutions create and manage stablecoins. He previously founded and was the CEO of Dwolla, a payments startup.

Ciaran McMullan is the former president and CEO of Suncrest Bank, which sold to Citizens Business Bank in 2022 and currently advises banks and fintechs.