After the government-sponsored enterprise patch expires, "near prime" loans over the 43% debt-to-income ratio should be qualified mortgages if they have compensating factors, according to the Center for Responsible Lending.
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The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.
August 6
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Steeper rate declines contributed to a deeper quarterly net loss at Ocwen Financial, forcing it to extend its timeline for returning to profitability.
August 6
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The deal coincides with that of another first-time whole-biz issuer this week, Primrose School Franchising Co. Primrose is marketing the franchise fees and revenues of its chain of early childhood education and day care centers.
August 6
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A gradual approach would help the market absorb loans affected by the government-sponsored enterprises' expiring qualified mortgage exemption, a Redwood Trust executive told analysts during a recent earnings call.
August 5
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Primrose School Franchising Co. is marketing $275 million in bonds backed by a whole-business securitization of royalties and revenues from the firm’s rapidly expanding 405-school franchised network of early childhood/pre-K education and day care centers.
August 5
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Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it.
August 5
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PIMCO is resecuritizing a large swathe of mostly non-qualified home loans that were previously bundled in 2016-2017 mortgage-backed securities, according to presale reports.
August 5
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Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains.
August 2
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“Buy here, pay here” auto lender Byrider’s improvements in recent ABS collateral performance and operational servicing changes are gaining favor with ratings analysts.
August 2
- LIBOR
According to Covenant Review, HPS Investment Partners is among the first CLO managers to plan on the use of a forward-looking SOFR term rate to price coupons if Libor benchmark rates disappear after 2021, as expected.
August 2
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Hilton Resorts Corp. will add up to $21 million in additional collateral after the closing of its Hilton Grand Vacations Trust 2019-A transaction, its first of the year.
August 2
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Moody’s said the Fed’s cuts – the first in a decade by the central bank – will boost real estate and consumer ABS collateral by helping lenders uphold underwriting standards and provide affordable debt options to borrowers.
August 1
