Consumer lending

According to ratings agency presale reports, Flagship will sell $303 million in bonds from a $314.8 million of loan originations by Flagship as well as its CarFinance.com subsidiary.

As financial distress mounted, 12.4% of mortgagors missed payments across the second and third quarters of 2020 — and it could get worse, according to a study from the Mortgage Bankers Association.

Defaults have been milder than expected thanks to government relief and stricter underwriting. But with the crisis dragging on and policymakers unable to agree on a stimulus plan, loans to highly indebted companies remain at risk.

While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.

Prestige's new $377M securitization has a collateral pool in which over 44% of the loans are from borrowers with recent Chapter 7/13 discharges.

The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities.

Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

Over 3.6 million borrowers sit in coronavirus-related forbearance with portfolio and private-label securitized loans driving the week's increase, according to Black Knight.

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 25-Oct. 1

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 18-24