The booming loan and CLO markets could face hurdles unless merger & acquisition activity picks up.

Finance of America has $350 million of notes coming due next year and wants to trade them for $200 million of secured debt coming due in 2026 and $150 million maturing in 2029.

The Federal Reserve attributes the uptick in simulated losses in this year's stress test examination to heightened risks on bank balance sheets and higher expense levels. Credit cards and corporate lending were top areas of concern for the central bank.

New York Mortgage Trust's 9.125% notes due 2029 may help fund new purchases of mortgages and securitizations in the private or agency markets.

The deal structure also features a two-year revolving period, followed by a full-turbo amortization phase.

The Consumer Financial Protection Bureau extended the deadline for lenders with the highest volume of small-business loans to July 18, 2025, and will not assess penalties for reporting errors for a year.

Also, 3.3% of the pool are closed-end loans with second lien priority underwritten with various documentation methods.

But those in opposition are still giving the agency props for how it carried out the new product approval process for the first time.

Home price appreciation and favorable economic factors have led to consistent loan performance, but prepayments are increasing with an uptick in housing turnover, according to Morningstar DBRS.

None of the loans registered a delinquency in the past 24 months, and none had received a modification prior to the May 31 cutoff date.

There were 27 bank acquisitions worth $5.45 billion announced in the second quarter as of mid-June. That was more than the $5.2 billion combined value of deals announced over the previous five quarters.

The move allows Freddie Mac to start purchasing certain second lien mortgages, but establishes limits on how much volume it can do.