A year after Fannie Mae launched its first credit-risk transfer securitization using a real estate mortgage investment conduit, Freddie is now electing to also opt for a REMIC format in offloading the credit risk to private investors.
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At a forum convened by the CFPB, several bank and fintech executives argued that long-delayed rules required under the Dodd-Frank Act can help fight discrimination and shine a light on unsavory practices in the market for small-business credit.
November 6
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According to ratings agency presale reports, the $398.7 million Flagship Credit Auto Trust 2019-4 includes a 23% share of collateral loans originated through the company’s growing dCarFinance.com direct financing channel.
November 6
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An increase in credit risk transfer activity since 2015 signifies a sea change for private mortgage insurers that may be about to intensify, according to an industry trade group.
November 5
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Many in the space are seeking the creation of a "flexible" supervisory regime that relies on existing authorities and a hands-off approach from state agencies, but such a plan faces an uphill battle.
November 5
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Instead of marketing securities backed by commercial property mortgages, STORE Capital chooses the more esoteric option of securitizing the income from its triple-net leases – a similar strategy to REITS such Spirit Realty Capital and SCP Financial.
November 5
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Sixty percent of the loans were underwritten with just 12- or 24-month bank statements, according to ratings agency reports.
November 5
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The loans have principal balances ranging from $2.2 million to $66 million, with the largest loan belong to the GNL Office and industrial portfolio of 12 single-tenant industrial and office properties in 10 state
November 4 -
The Supreme Court is ready to weigh in on the CFPB’s leadership structure, but both agencies are facing similar constitutional challenges, suggesting a broader impact of any decision.
November 4
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The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.
November 4
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The Federal Housing Finance Agency is seeking comment on a proposal that could pave the way for potential Fannie Mae and Freddie Mac competitors to use the uniform mortgage-backed security structure.
November 4
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Freddie Mac is now forecasting back-to-back years of $2 trillion in mortgage loan originations rather than a drop-off in 2020.
November 1
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A diverse mix of well-performing assets in its collateral pool is helping CCG Receivables Trust 2019-2 secure a strong credit profile, as it brings $317.2 million in asset-backed securities to market.
November 1
