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...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...Separately, it paid a $25mn penalty to the CFPB related to private student loan servicing practices. “Capital One is a healthy, well-managed, well-capitalised bank....
...He also extended a $30mn loan to a company registered in the name of Epstein’s private pilot. The company, Plan D LLC, owned a Gulfstream jet....
...Sweden’s Verisure has tapped in to that scramble among investors to raise €4.4bn of new bonds and loans....
...Other private non-bank lenders include Freedom, United Wholesale, Ocwen, and Amerihome....
...The cost of servicing £350m of new debt, raised in October with a record 9.5 per cent coupon, means Metro is not expected to return to profit until 2021....
...Built jointly by Kazakhstan and China, these pipelines, all since completed, would stretch more than 3,000km and be funded with Chinese state loans....
...The TFS offers banks four year loans at the policy rate and was designed to incentivize them to pass on lower rates to borrowers....
...Yes, the numbers are bigger, but the shock, while not a V is shorter and sharper than that crash, and the pre-crisis fiscal situation was strong....
...(v) Restructuring continues. Of course it does. But what about that Tesla, eh?...
...As the stock of non-performing loans falls, servicing platforms are beginning to look at new ways of making money. Read the full piece by the FT's Thomas Hale here....
...The cost of servicing subscription lines can run into millions of pounds, which can reduce final returns for investors....
...It suggests customers may engage directly with financial services providers — such as traditional banks or P2P services — or they may deal with an intermediary....
...The composition of Lending Club’s loan servicing portfolio was assumed not to change, with servicing revenues moving in step with loan originations....
...But this stability may be being compromised....
...Last February, for example, it began a public correspondence with Ocwen Financial, the non-bank mortgage servicing company which was rapidly picking up assets from the banks, detailing concerns over its...
...The commercial interest reference rate published by the OECD may be applicable when the loan is issued by one of its member countries....
...New York’s top banking regulator has accused mortgage servicing giant Ocwen Financial of backdating “potentially hundreds of thousands of letters” in a move that may have prevented borrowers from receiving...
...However, the Fed has indicated that rates may still rise by year-end – it needs to end the uncertainty now and clearly articulate its plans....
...The restatement of results, according to Ocwen, relates to the valuation of its mortgage servicing rights....
...The specialised servicers have been buying hundreds of billions of dollars worth of mortgage servicing rights, which give them license to collect payments on US home loans in exchange for a sliver of the...
...But Ocwen may face an uphill battle to sell the new breed of bonds, which are backed by its mortgage servicing rights, after pricing its first such deal last week amid growing regulatory scrutiny over the...
...The investors’ concerns centre on mortgage servicing practices and loan modifications that they claim may have hurt the performance of securities bought by investors, said people familiar with the discussions...
...While the company estimates that banks still have $1tn worth of MSRs to sell, servicing mortgages has a finite shelf life, and originations of the subprime loans in which Ocwen specialises are unlikely to...
...The DfS asked Nationstar to provide a detailed breakdown of its servicing portfolio as well as the number of loans handled by the company’s employees....
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