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Cannabis, though still illegal at the federal level, continues to inch into the financial mainstream. Small credit unions and lenders as large as Valley National and East West have moved beyond just taking deposits from marijuana companies.
June 21 -
Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit-union securitizations nearly four years ago.
March 12 -
The legislation, which would apply to both banks and nonbanks, would give borrowers the right to sue for damages when servicing violations occur.
August 28 -
Mark Calabria needs to be working to secure a Fed facility for servicer advances and to support, not denigrate, smaller servicers, the Mortgage Bankers Association said.
April 8 -
Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.
February 25 -
Credit unions have seized share in auto lending. It may not be long before the same happens in auto ABS.
February 17 -
The nonbank share of large mortgage servicing is growing, but smaller players tend to be depositories, the Consumer Financial Protection Bureau found in a new report aimed at examining regulatory impacts.
November 22 -
The House of Representatives passed two bills that would tie appraisal waivers for Small Business Administration loans to bank rules for commercial real estate loans, despite objections from the Appraisal Institute about its members being cut out of transactions.
September 26 -
The Consumer Financial Protection Bureau's final rule to formalize guidance on a number of TILA-RESPA Integrated Disclosures compliance points omits an originally proposed fix for the so-called black hole that's created when a mortgage closing is delayed.
July 7 -
The NCUA is letting federal credit unions securitize and sell assets. Such transactions would free up capital at credit unions, allowing them to make more loans.
June 26