JPMMT 2023-4, as the deal is known, has a cross-collateralization structure that divides the collateral into two groups that determine the repayment of principal and interest. This is similar to previous JPMMT transactions.

Citing "changing market dynamics," the company announced it will exit mortgage lending this summer.

The non-qualified mortgage pool consists mostly of loans underwritten to less than full documentation, some 96%. Also 47% of the loans were underwritten to a bank statement program for verifying income.

The banking industry, which has been contending with deposit outflows, could get a short-term boost from spooked investors. But once the White House and House Republicans reach a deal on raising the debt ceiling, the pressure on deposits may resume, analysts say.

Rising demand and aircraft shortages are pushing up lease income, which is expected to continue tightening spreads for issuers.

Cadma Capital Partners will provide asset-backed financing to venture- and growth-lenders, high-growth companies, and financial sponsors.

Home purchasers had to come up with 0.9% more in April versus what they would have paid in March and 11.8% higher on a year-over-year basis, the Mortgage Bankers Association said.

The deal is the second one for this year, a different tack for a program that has appeared once annually in the past.

The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

Two issuances will fund revolving pools of leases from various vehicle companies even as a looming recession may dampen travel demand.

Some in the space say they've seen new players coming in but others disagreed during a panel at the Mortgage Bankers Association's Secondary and Capital Markets conference.