Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.
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Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.
May 14
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As of Dec. 31, 2023, according to Moody's, the portfolio's delinquency rate was higher than the rating agency had observed in previous MBFS-sponsored transactions dating back to 2019, but it was still extremely low, at 1.46%.
May 14 -
Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.
May 13 -
The concentration of borrowers with FICO scores below 700 decreased to 12.13% of the pool, and the contingent of managers and lead underwriters is much longer on the series 2024-A notes that it was on the series 2023-B.
May 13 -
The Japanese banking giant's sub foresees vibrant 2024 and expanding CLO interest from Asian investors.
May 13
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Rep. Andy Barr, R-Ky., is asking the Federal Deposit Insurance Corp. to withdraw a corporate governance guidance proposal as FDIC Chair Martin Gruenberg is set to testify in Congress later this week.
May 13 -
The current portfolio is secured by tax liens from municipalities in eight states and Washington, D.C., that have a redemption value, or the approximate value of the outstanding liens, of about $119.6 million with an original lien rate of 12.2%.
May 10 -
The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
May 10 -
The deal includes subordination in the form of class B notes, a rarity for whole business securitization deals.
May 10 -
When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
May 10 -
All four of the class A tranches benefit from total initial hard credit enhancement of 13.80%, while the B and C classes of notes are covered by 10.6% and 6.0% in initial hard credit enhancement.
May 9 -
Yields are expected to range from 6.3% on the AAA notes to 7.4% on the BBB notes, which are priced against the three-month interpolated yield curve, and have a final schedule payment date of May 15, 2029.
May 9
