Vehicle-finance transactions and ABS backed by a variety of business-finance assets were the mainstays in 2019’s modest increase in new issuance. Consumer-finance deals saw significant growth but accounted for just 6% of the market. (Includes two data charts.)
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Trade groups are wary that any capital rule issued after May could be over-turned if Democrats win the White House and control of Congress in the next election.
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The company, a player in non-QM lending, renewed a shelf registration with the SEC but it’s unclear whether it will tap the capital markets. Meanwhile, Mr. Cooper is redeeming some notes early.
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Federal regulators have issued a request for comment on a review of credit risk-retention standards tied to the qualified mortgage “patch” and exemptions for community-focused and three- to four-unit mortgages.
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The Mortgage Bankers Association recommended changes to Ginnie Mae’s proposed Digital Collateral Guidance to clarify requirements for accepting digital promissory notes and other documents.
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The Structured Finance Association has launched a task force to help the industry incorporate environmental, social and corporate governance practices into the issuance of MBS and ABS.
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Its collateral has been performing well, but questions have been raised about Sterling Bank’s non-QM effort. For now, the program has been suspended but the depository is vowing a return.
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GSE recap-and-release work will generate millions of dollars in fees for the lucky advisory firms. In a few weeks, the FHFA is expected to announce its counsel.
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