Refinance

Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.

Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.

CLO managers who accept lower interest payments on loans risk running afoul of deal covenants; but if they take their money back, there are few attractive options for putting it back to work