secwatch.observer — SEC 8-K summary
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Issuer:     Regional Management Corp. (RM)
CIK:        0001519401
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0000950170-24-041128
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Regional Management amends four warehouse credit facilities, adjusting advance rates, leverage, and trigger events
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- RMR IV amendment adds hedge reserve account if 3-month excess spread <=18.50%; interest rate hedge trigger raised to 16.75%.
- RMR V leverage ratio increased from 5.0x to 5.25x; credit eligibility now permits FICO and VantageScore.
- RMR VI advance rate reduced from 80% to 75%; Level I trigger event removed; nonperforming loan sale alternative period added.
- RMR VII amended to remove excess spread definition, modify trigger events, and add nonperforming loan sale holiday.
- All four amendments allow use of FICO or VantageScore for underwriting and include various servicing fee advance provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1519401/000095017024041128/0000950170-24-041128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1519401/000095017024041128/rm-20240329.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-041128

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