Securitization

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

The case of a pastor wrongly-accused by Wells Fargo has mandatory arbitration back in the spotlight; JPMorgan started buying securities long before talk about rate cuts; more banks are turning to M&A to acquire talent; and more from this week's most-read stories.

The bank started buying more Treasurys and mortgage-backeds over a year ago, long before talk about rate cuts. What did it know that its rivals didn't?

Readers react to Capital One's massive data breach and The Bancorp's expansion in CRE securitizations, defend fintechs offering retirement plans and more.

After talks with well-connected lawyers for Barclays and the Royal Bank of Scotland, senior Justice Department officials in Washington last year overruled career prosecutors who had been investigating wrongdoing that cost investors billions.

On Mar. 31, 2019. Dollars in thousands.

Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition.

The agency's board voted 3-1 on Tuesday to give large banks additional time to comply with new rules that force them to keep better track of insured deposits.

The bank believes its U.S. unit will pass this year’s stress test but Fed restrictions will stay; COO is the second member of CEO’s inner circle to leave.

The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings.

Student CU Connect CUSO, which had made high-risk loans to students of the now-bankrupt ITT Technical Institute, agreed to a settlement resulting in an estimated $168 million of loan forgiveness.

Director Mark Calabria urged lawmakers to grant the agency chartering authority similar to that of bank regulators to boost competition in the mortgage market.

The consolidation of the two companies' securitization platforms into a single bond market became official on Monday.

The launch of a combined securitization platform for Fannie Mae and Freddie Mac is meant to ease the transition to a new housing finance system. But questions remain about how the mortgage sphere will adapt to the single security.

The bank dropped out of the bidding for the card over profitability fears; returning to the market could boost Barclays' investment bank.

Prepayments tied to repeated VA loan refinancing activity have had an adverse effect on Ginnie’s mortgage securities that persists despite countermeasures. The government bond issuer is making new plans to address the impact.

Purchase of United Capital Financial would extend the bank’s reach; the bank is raking in online deposits even as it pares back its branch network.

The Fed is moving to prepare banks for unexpected shocks tied to weather; rules would be eased for trades between affiliates.

On Dec. 31, 2018. Dollars in thousands.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.