A large majority of the pool assets, 86.2%, are second-lien home equity investment contracts that have a weighted average (WA) multiple share rate of 2.00x.

President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.

Although the deal, which closes on November 26, is the first securitization from Ansley Park, its owned portfolio since January 2024 has had strong performances with no losses to date.

GDLP 2025-3 has a so-called vertical risk retention structure, where 95% of the collateral balance is allocated to the noteholders, while retained interest noteholders will hold the rest.

The Structured Finance Association is adding its weight to recent support for a Securities and Exchange Commission action that could modernize Reg AB II.

Spread premiums on esoteric ABS attract new types of investors, including those managing insurers' assets.

If class A notes fail a credit enhancement rest, a cumulative default ratio amortization event occurs, or the pool balance is 10% or less, then GSKY 2025-3 will move to a sequential pay structure.

Policy reviews of GSEs and Basel rules could reshape the MSR market, opening opportunities for banks and altering Fannie, Freddie MBS dynamics.

Delinquencies are at their second highest level in three years, led by deterioration in the performance of FHA loans, the Mortgage Bankers Association said.

While Fitch and Kroll have differing views on mortgage rates next year, both are looking for mortgage delinquencies to rise in their rated portfolios.

Since introducing the Upstart Macro Index to address increasing delinquency rates in previous years, the changes to its underwriting and credit models have improved future vintages' performances.

Loan sizes are only $477.50 on average, while borrowers attached to the contracts have weighted average FICO scores of 727.