Credit-risk transfer transactions offer capital relief for banks and strong yields for investors. A CRT from Texas Capital Bank could only be scratching the surface of the potential of such deals.
Remote online notarization provision dropped from defense bill; credit unions allowed to acquire MSRs from other credit unions; new document processing technology offering; mortgage tech vendor raises capital; automated mortgage assistance product offered to distressed mortgage borrowers, for a fee.
There’s a growing market for ABS where deals are negotiated discreetly between the issuer and a handful of investors. The securities typically don’t receive credit ratings.
The ABS includes royalties for more than 200 songs that hit number one on the charts. However, none of the songs were disclosed in a rating report on the transaction, and only three artists were identified.