Rising purchase activity countered falling refinances, as declining interest rates helped bring some aspiring buyers to market, the Mortgage Bankers Association said.

A robust selection of securitized products, including ABS, CMBS, CLOs, and agency and non-agency MBS, will be included in the new fund.

All of the class A notes have total hard credit enhancement levels of 22.35%, and notes have legal final maturity dates ranging from Nov. 15, 2024 through Dec. 15, 2032.

Higher education debt originations are poised to turn a corner next year amid industry changes. The big question for observers is whether securitization will follow in 2024 business.

Financial firms claim a proposal by the Consumer Financial Protection Bureau would restrict lending, raise borrowing costs and result in more denials of credit to consumers.

The BSBY interest rate benchmark was originally envisioned as a successor to the once-ubiquitous Libor rate. But it failed to gain much traction, and Bloomberg now plans to shut it down next year.

Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.

The notes benefit from subordination, overcollateralization, a reserve account and excess spread. Nelnet Servicing is also on the deal as a backup servicer.

Classes B, C, D and E benefit from credit enhancement levels amounting to 41.35%, 28.45%, 15.30% and 6.15%, and enhancements include a reserve account, excess spread and subordination.

The deal could be upsized to $1.3 billion in issuance, and benefit from several layers of credit enhancement, including a reserve fund, excess spread and overcollateralization.

Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller's strike, economists said.

While the government-sponsored enterprise cut its origination forecast for this year, the Mortgage Bankers Association's updated forecast was unchanged from its October prediction.