SoFi gets a lift from the return of student loan payments
The neobank is also benefiting from its product diversity.
Technology
HELOC, nonagency securitization could grow long term, leaders say
Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.
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.
Solar loans, tracking carbon footprints: Ken LaRoe pursues green goals
Despite ESG headwinds in Florida, Climate First Bank in St. Petersburg continues to make "green" loans and plans to show consumers how their purchases affect the environment.
Freddie Mac adds new tax data source that may limit repurchase risk
The new technology expands the capabilities of automation used to obtain digital transcript information from self-employed borrowers.
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.
Banks get clearer views of risk using AI, data integration and the cloud
Experts and industry leaders said banks are pumping investment into technology that can connect information silos.
Pagaya secures $594M ABS with AI-generated consumer loans
The unsecured loans are generated on marketplace lending platforms using proprietary technology that use artificial intelligence and machine learning software.
Why SoFi may see limited gains from restart of student loan payments
High interest rates could dampen demand for refinancing, which took a hit during the pandemic-era pause in federal student loan payments. "Curb your enthusiasm," one analyst said.
Can AI do the work of research analysts?
The technology that powers ChatGPT can sift through and even synthesize massive amounts of data, though it must overcome doubts over reliability, transparency and regulatory risk before it can be harnessed to conduct useful research.
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.
Fintech platform LTX launches chatbot to help U.S. bond traders
The chatbot, powered by OpenAI Inc.'s GPT-4 language model, is an attempt to simplify work flows for traders who often navigate a complex market where liquidity is increasingly waning
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.
SoFi will ‘always’ stay in student lending, despite challenges: CEO Noto
The neobank expects to turn a profit by the end of the year, but faces challenges as it copes with the government's pause on federal student loan repayment and with the difficulty of selling technology services to other businesses.
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