The deal includes two triggers, one for debt service coverage ratio, and the other for loan-to-value ratio.

The deal also includes a cumulative default trigger that, if in effect, will revert the GDLP 2025-2 deal to a sequential payment priority.

One atypical feature, for an auto ABS deal, is that principal on the notes will be reduced in a reverse sequential order based on realized losses.

As the Federal Reserve considers changes to the supplemental leverage ratio, Fed Board Chair Jerome Powell said that effort is one piece of a broader deregulation package that will also address the Basel III capital rules.

Nonbank mortgage companies are regulated on the state level, but multistate examinations allow for virtual nationwide and industry-wide coverage.

Fannie Mae's June housing outlook was down from a month ago, reflecting expectations of a further slowing housing market.

They are not municipal bonds, but they follow municipal bond repayment practices.

The gap between costs and wages hit an inflection point and policy may determine what happens next, according to the Harvard Joint Center for Housing Studies.

Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.

The deal includes a step-up rate to the coupon for the A1A, A1B, A2 and A3 notes beginning in July 2029, and the increased rate will be equal to the original class coupon rate, plus 1%.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."