The notes will accumulate an overcollateralization level of 11.20% of the current collateral balance and benefit from a cash reserve account equaling approximately 1.25% of the initial collateral balance.

Stronger than expected demand and home prices drove the latest forecast.

Urschel is said to have led the financing for the majority of recent franchised whole business securitizations and several dozen transactions involving cell tower, data center, fiber and other digital infrastructure assets.

When the deal closes, credit enhancement on the class A note will include overcollateralization, which will be 16.3% and is expected to increase to a level of 20% of the current pool balance.

Guidance on the A-1 notes is 38 to 40 basis points over the I-Curve, which is significantly wider than where the class A-1 notes from the 2023-1 deal closed.

The properties have an aggregate critical load power of 65.25 megawatts, and all of the data centers in the portfolio are turnkey, which the rating agency considers positive.

Executives at the Minneapolis bank responded to a research report that highlighted the decline in a key capital ratio after an acquisition last year. They don't plan to raise capital but aim to generate more of it from earnings in coming quarters.

Economic turbulence affected borrowers during the quarter and will likely impact their ability to refinance maturing loans, the Mortgage Bankers Association said.

The deal launched from the Achieve platform, bringing Freedom Consumer Credit Fund's cumulative issuances across its securitization portfolios to $4.8 billion.

The Tennessee bank confirmed in its earnings report that the deal, already delayed by several months amid heightened regulatory scrutiny, likely would not close by a May 27 deadline. No new target date has been set.

Fannie Mae researchers found housing costs decelerating for the fourth straight quarter, but limited inventory may be driving hopeful buyers to look for opportunities in the new-construction market.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.