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Bipartisan Bill Would Ease Restrictions on Construction Lending

By Allison Bisbey

The bill, sponsored by Congressman Robert Pittenger (R-NC) and Congressman David Scott (D-GA), would clarify rules that critics say have caused banks to pull back from construction lending, hurting credit availability and driving loans into risky, unregulated sectors.


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Latest News

Bayview Preps 3rd RPL RMBS of CitiFinancial Mortgages

– The loans backing Bayview Koitere Fund 2017-SPL3 have average seasonin of 11 years and are secured by lower-valuation properties (an average of $97,500), with the highest concentration in North Carolina (9.1%), Pennsylvania (7.7%) and Virginia (6.7%).

CFPB Hits Auto Loan Servicer for $2.4M

– The Consumer Financial Protection Bureau ordered an auto loan servicer on Wednesday to pay $2.4 million in fines and redress to consumers for failing to abide by a 2015 consent order alleging it bullied members of the military.

Morgan Stanley/BAML Conduit Relies on Hybrid Risk Retention Strategy

– Morgan Stanley and Bank of America Merrill Lynch are marketing a commercial mortgage securitization that relies on the “L-shaped” strategy to comply with risk retention.

Fannie Makes it Easier for Student Loan Borrowers to Get Mortgages

– Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing other similar proposals related to this goal.

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Featured Articles

Navient's Not Done; Servicer Eyes More Student Loan Portfolios

– Incoming CFO Christian Lown says an agreement to purchase $6.9 billion of federally guaranteed and private student loans from JPMorgan Chase should encourage other banks to consider portfolio sales,

Supreme Court Sends Mixed Signals in Debt Servicing Case

– The justices appeared exasperated with both sides in a case that would define whether companies that buy distressed debt are covered under a federal statute setting limits on their activities.

LSTA Takes Risk Retention Fight to the Top

– The Loan Syndications and Trading Association is appealing directly to Treasury Secretary Steven Mnuchin to exempt collateralized loan obligation managers from rules requiring "skin in the game" of deals.

CLO Managers Holding Out Hope for Regulatory Relief

– Some are wording the language of amendments used to refinance deals so as to be able to benefit if risk retention rules are repealed.

A New Way to Hedge Commercial Real Estate

– Global Index Group has developed a synthetic product that allows investors to go long or short a leading U.S. commercial real estate index, the NPI. CBRE Capital Advisors is the exclusive broker.

Lackluster IPO Shows Subprime Lenders Still Face Hurdles

– Elevate Credit in Fort Worth, Texas, debuted Thursday at half the price the company had been targeting. Investors may have been spooked by the possibility of rising losses.

More Evidence that Rising Student Debt is Bad for Lenders

– New research from the New York Fed confirms a lingering concern: More prime-age, college-educated borrowers are delaying the decision to buy a home or make other purchases as they focus instead on paying off their student loans.

Bank Consortium Demos Leveraged Loan Trade via Blockchain

– Coordinators Synaps Loans, Credit Suisse and financial services consortium R3 say that the 90-minute "proof of concept" demonstrates that blockchain can be used for large-scale financial transactions.

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Shift from Leases to Loans Is Powering Solar Securitization

Owning may offer consumers more savings than leasing, but loans pose a different set of risks to investors when pooled into collateral for bonds.

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