Federal Reserve guidance issued in 2023 has opened up depositories to issue more synthetic-risk transfer securitizations in a market that was historically dominated by European banks.
Downgrades of securities issued by the subprime auto lender highlight the challenges ABS investors can experience working with loan originators who also service their own production.
The lender sees major opportunities to increase mortgage volume by reaching out to borrowers who speak only Spanish or have limited English proficiency, even as HUD pulls back on translation services.
Figure has big plans for its loan registry, positioning it as a competition to MERS. To this point, though, Figure’s blockchain-powered DART registry has been used only in its internal platform.