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Over 40% of the collateral is from two 2016-vintage transactions that were recently "collapsed" because proceeds from liquidations had slowed. Then there's the exposure to Puerto Rico.
March 9
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Securitization of nonperforming home equity conversion loans was pioneered by Nationstar; FAC's inaugural deal may be outstanding longer.
December 7
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The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines.
October 6
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Nearly half of the properties are in New York (30.3%), New Jersey (10.4%) or Florida (8.7%), states that require a court to sign off on a foreclosure, a lengthy process that could affect the timing of payments.
September 26
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The Department of Housing and Urban Development is implementing reforms to its reverse mortgage program and providing more counseling resources for seniors who are considering the product, Secretary Ben Carson said Monday.
July 17
