In this week’s newscast: Laurent Mitaty’s promotion at Societe Generale; Florida Hurricane Catastrophe Fund eyes insurance-linked securities; and student loans are unmoved by Obama’s plan.
More From Asset Securitization Report
Hurricane Helene’s damage estimate soars, tripling initial projections
Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion.
Banks keep European CLO market alive by buying their own product
European banks are snapping up large pieces of their own collateralized loan obligations, keeping the market for CLOs afloat in the absence of the U.S. and Japanese banks.
GOP fury over ESG triggers backlash with US pensions at risk
ESG is still a relatively new investing form, and the acronym itself has only existed for less than two decades. But over the past five years, it has outperformed.
A Biden CFPB could put pressure on mortgage servicers
The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to help borrowers could face tougher enforcement.
Podcast Why won’t Congress fix flood insurance?
For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.
