When the deal closes, NALP Asset Backed Securities will deposit $32.1 million in the prefunding account to purchase additional loans.

A Department of Government Efficiency team is working with FDIC leadership to "increase efficiency," which could include cuts to contracts and streamlining staff. FDIC says DOGE staffers have "appropriate clearances."

The latest foreclosure report adds to evidence from housing research groups that economic difficulties are beginning to impact a rising number of homeowners.

Moderate leverage is one example of cleaner credit, as the current collateral pool's original loan-to-value (LTV) ratio is 69.1%, down from 71.7% on the 2024-NQM1 series.

The property is competitive, with overall sales of about $570 million in 2021, but the deal is short on upfront reserves to cover outstanding landlord obligations, like free/gap rent.

Pres. Trump's decision to pause most of the tariffs has sparked a rally in the stock market, but the 10-year yield, while off of its peak, remains higher.

In a speech at the American Bankers Association Washington Summit Wednesday morning, Treasury Secretary Scott Bessent downplayed economic risks from tariffs, floated capital reforms and urged regulatory relief for community banks.

Wholesale firm Ardri's acquisition of The Lending Spot comes after the company installed a mortgage industry veteran as its new president earlier this year.

Senate Banking Committee Chairman Tim Scott said Jonathan McKernan's final confirmation vote to lead the Consumer Financial Protection Bureau is "imminent."

Originators applied bank statement, full documentation and profit and loss documentation in their underwriting.

Federal Reserve officials want to see how exactly new trade policies impact the U.S. economy before adjusting interest rates. Markets and monetarists have different ideas about what that might look like.

So-called wet loans can be included in the transaction, and the servicer will have limited opportunity to deal with them without complete file information.