LendingClub, which operates an online marketplace, recently issued its first consumer loan-backed ABS of the year. The loans were originated under a model that has been successfully challenged in certain courts, raising concerns from rating agencies.

A panel of the 8th Circuit Court of Appeals, in a ruling earlier this month, said a reseller of mortgages can demand that an originator repurchase defective loans, even though the contract between the two companies did not specify a timeframe within which the originator had to cure any defects. The decision reversed a lower court’s ruling.

In a first, Connecticut Green Bank will issue an ABS backed by solar renewable energy credits. The $38.6 million deal from the nation’s first green bank could provide proof of concept for future issuance.

In a class action lawsuit filed last month in the U.S. District Court for the Southern District of New York, a group of institutional investors allege that several Fannie Mae- and Freddie Mac-approved dealers colluded in a systematic scheme to manipulate prices in the secondary market for agency debt.

To date, the revival in the new “subprime” mortgage market has been driven exclusively by nonbank originators and aggregators, but now there’s a depository in the pond: Reliant Ban-corp, Brentwood, TN.

The Federal Reserve lost its top ranking among residential MBS investors during the fourth quarter of 2018, giving way to the commercial banking sector, according to a new In-side MBS & ABS analysis. [Includes three data charts.]

Fannie Gets New Board Members; Freddie Announces $1.4 Billion K-Deal; Fannie Names New General Counsel.

A panel of the 8th Circuit Court of Appeals, in a ruling filed earlier this month, found that a reseller of mortgage loans could demand that an originator repurchase defective loans, even though the contract between the two companies did not prescribe a specific timeframe within which the originator must cure any defects. The decision reversed a lower court’s ruling.

Freddie Mac announced Thursday that current President David Brickman will get the nod to head the GSE. He will also take a seat on the board of directors. Donald Layton, the current CEO, will retire in July, as planned.

The Senate Banking Committee late Tuesday announced it will hold a pair of long rumored hearings next week to discuss the housing-reform outline released last month by Chairman Mike Crapo, R-ID. The hearings, which have been rumored for weeks, are scheduled for March 26 and March 27.