Securitization

While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place.

Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.

In a surprise move, the Supreme Court will decide whether Amex may bar merchants from steering customers to less expensive card networks. The card issuer will have to prove the consumer gain from its practices outweighs the merchant pain.

Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.

CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.

The Treasury Department is expanding its calls for overhauling regulation of the financial services sector, this time focusing on changes to the most significant rules surrounding securitization and derivatives.

On Jun. 30, 2017. Dollars in thousands.

Jia Chen has spent the past two years meeting clients, speaking at industry panels and becoming the face of a resurgent market for synthetic CDOs. Along the way, she's helped establish Citigroup as its dominant player.

The CFPB has ordered National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, to pay at least $21.6 million.

Credit Suisse Group AG said it settled lawsuits brought by Massachusetts Mutual Life Insurance Co. over the sale of mortgage-backed securities before the financial crisis.

The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.

Husband and wife claim they were fired for raising concerns about the bank’s sales practices; commercial mortgage-backed securities on pace to top last year’s volume.

The latest draft of EU securitization rules would ban securitization of loans where borrowers certified their own income, raising concerns about banks’ ability to unload roughly $1 trillion of nonperformers.

With fewer CMBS deals coming to market — partly as a result of risk-retention rules — an independent finance company like Ladder Capital can’t always wait to piggyback on Wall Street’s transactions.

TCF executives were peppered with questions about the quality of $345 million in auto loans recategorized as held for investment in the second quarter, as a result of the company’s recent move away from loan sales and securitizations.

On March 31, 2017. Dollars in thousands

Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states.

Royal Bank of Scotland Group agreed to pay $5.5 billion to settle the second of three major U.S. mortgage-backed securities probes the government-owned lender must overcome before it can fully return to the private sector.

The former Triumph Capital Advisors doubled its business by acquiring Doral Bank's CLO assets; Dodd-Frank’s “skin in the game” regs spurred its spinoff as a vehicle of the deep-pocketed Pine Brook.

Chinese banks and insurance companies represent a new and potentially large source of capital that could crowd out U.S. banks as investors in collateralized loan obligations.