UWM, Guaranteed Rate, Loandepot roll out new initiatives
Also, Wells Fargo, Finance of America entered into partnerships affecting real estate tax and cybersecurity solutions.
Data and information management
What banks need to know about Snatch ransomware
Two federal agencies recently released a warning about a strain of ransomware called Snatch, which has adopted the successful tactics of other variants.
Federal agencies warn of rising deepfake threats
The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.
Pennymac, RoundPoint clients exposed to global data breach
The customers were affected by an incident involving a Progress Software program used by Sovos Compliance.
DC Commercial Mortgage Trust plans to float $990 million in CMBS
The issuer underwriting (UW) rent for data center space is about 17.9% below the sponsor's market rent estimates, leaving potential opportunities for further rent revenue increases.
Aligned Data Centers presents $350 million to the ABS market
The data centers have an appraised value of $3.8 billion, with 32 tenants. S&P assigned a value of $1.8 billion to the properties, and an average cap rate of 8.7%.
Banks must publicly disclose data breaches under new SEC rule
The new rule sets a nationwide standard for disclosing all "material" breaches within four days — much sooner than many state-level disclosure rules.
FTC investigation of OpenAI scrutinizes AI data security
In a data breach at OpenAI, some ChatGPT users were able to see other users' financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.
DATA CNTR prepares to float $450 million off a single-borrower loan
Some 23 tenants occupy the data center complex in Illinois, which accounted for 86.7% of total square footage and 86.8% of rentable power. The property has a net operating income of $62.7 million, and cap rate of 6.70%.
Data center issuer TierPoint comes to market for the first time, raising $900 million
The deal has several performance triggers with cash trap reserves, senior note interest and expense reserves, and loan-to-value tests.
How worried should banks be about the dangers of quantum computing?
Experts say banks should start stepping up their encryption now, because hackers can steal it now and decrypt it with quantum computing later.
DataBank seeks $715 million, backed by data center leases and ownership interests
Among DataBank 2023-1's enhancement features is a turbo principal amortization mechanism that kicks in after the notes' anticipated repayment date.
Banks detected a record $886 million in ransomware payments in 2021
The increases may simply reflect better detection and reporting, but banks continue to facilitate large ransom payments to sanctioned individuals.
Breach data from Maine shows scope of bank, credit union exposures
The state's disclosure laws generated data that indicated millions of consumers had their personal details potentially compromised.
CFPB to crack down on financial firms’ protection of consumer data
The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.
Mortgage servicer sued by borrowers over data breach
Pingora Loan Servicing still hasn’t disclosed the full scope of last fall’s hack impacting at least 169,000 customers across four states.
U.S. banks haven’t had a ‘digital Pearl Harbor’ yet. Is one coming?
When the U.S. announced sanctions against Russia two weeks ago, many feared U.S. banks would bear the brunt of a payback cyberattack. Experts disagree on why that hasn't happened and whether the danger has passed.
Congress passes 72-hour cyberattack reporting requirement
The bill, part of the omnibus spending package, would force banks and other critical infrastructure providers to tell the government right away when they’ve been breached.
Cadeia completes pilot securitization over platform enabling partial to full DLT
The platform enables structuring of the entire transaction, including covenant tests and trigger levels, and the distribution of interest and principal cash flows, but professionals need more time to become comfortable with DLT.
By
John Hintze
Sequoia Mortgage Trust preps $448 million MBS, tapping distributed ledger technology for reporting
Sequoia Mortgage Trust is among the first to include a distributed ledger agent in its reporting processes.
Load More
Couldn’t load more articles. Try again.