Deals, trends and research in structured finance and asset-backed securities for the week of April 30-May 6

Critics say the regulation issued by the Office of the Comptroller Currency is a gift to predatory lenders. But the trade organizations warned lawmakers that invalidating it will make it difficult for the agency to create an improved framework in the future.

The company aims to use the additional capacity to get its non-qualified mortgage business back to producing $125 million per month, and anticipates more purchases of mortgage servicing rights, representatives said in its Q1 earnings call.

The digital-only bank has adopted machine learning to process loans faster, more accurately and with better fraud detection than in the past.

The 30-acre luxury retail development is among four investment-grade-worthy loans included in the multiborrower deal.

According to Moody’s Investors Service, nearly 73% of the 33-obligor pool for ACRES Commercial Realty 2021-FL1 are apartment buildings that lack current revenue streams due to property rehabilitation efforts or being under transition.

Cordray, named this week to lead the Education Department's office of federal student aid, cracked down on banks, student loan servicers and for-profit colleges when he was director of the Consumer Financial Protection Bureau.

Defaults and delinquencies are below pre-pandemic levels for online consumer loans held in securitization pools, but Fitch is concerned normalization may be shortlived as expanded unemployment benefits and other stimulus support programs draw to a close.

The online lender was not a party to the lawsuit involving the Federal Trade Commission and a payday lender, but it could emerge as one of the big winners from the Supreme Court’s decision.

Short-term late payment rates rose again and later stage delinquencies remain at elevated levels compared to those prior to the pandemic, the Mortgage Bankers Association said.

The deal is CIBC's third series from the CARDS II master trust, and the second to issue U.S.-dollar denominated bonds.

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.