The new department will be modeled after the Consumer Financial Protection Bureau to “provide consumers with more protection against unfair, deceptive, and abusive practices.”
Issuance of marketplace lending ABS is expected to increase slightly, led by optimism in the economy and improved underwriting criteria, according to rating services.
Velocity Financial, an active securitizer of nonprime mortgages, is ready for its maiden voyage in IPO land. One thing is for certain: Very few such firms are public.
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