The IRS approved a request from an asset manager to allow commercial PACE assessments as qualifying assets for REMICs. And Fitch has new commercial MBS criteria to assess commercial PACE loans.
Ascent Funding has an offering backed by loans tied to coding classes. Morningstar has warned that ABS investors aren’t protected in the event of a bankruptcy by the borrower.
NewtekOne is boosting originations of small business loans outside of the SBA 7(a) program. The firm recently issued its second ABS of the loans, offering strong yields for issuers and investors.
Refis are poised to increase and MSR values will decline as interest rates decline. United Wholesale Mortgage is prepared for the moment, having sold off a significant amount of MSRs earlier this year.
Lenders and servicers have made significant investments in recapture capabilities in recent years for when interest rates decline and refinancing takes flight.
Senate fails to move tax bill, which included changes to LIHTC; GSEs, FHA extend compliance deadline for ROV requirements; Treasury pushes FHLBanks on affordable housing; Morningstar concerned that market sell-off will become a self-fulfilling prophecy; loanDepot sets money aside for settlement related to a cyberattack.