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.

Expectations are for the notes to price at 18 basis points over the three-month interpolated yield curve on the A1 notes, which get 'A1+' and 'F1+' from S&P and Fitch.

CyrusOne Data Centers Issuer 2023-2 adds a property in Virginia, a state that accounts for a large portion of data center locations.

The financial services industry has run TV ads during football games and organized lobbying visits by small-business owners in its fight against the Basel III endgame plan to raise capital requirements for larger lenders. The tactics are beginning to show signs of working.

In her first remarks since the release of a sweeping report on the banks, Federal Housing Finance Agency Director Sandra Thompson urges them to strengthen underwriting and communication with their members' regulators.

The collateral pool had an average account balance of $1,620, lower than that of credit card securitization trusts that the Big Six banks sponsor, and the ABS notes benefit a 26% subordination level.