Amid the housing market's challenges, the pool still has borrowers with strong credit profiles, including a 48% debt-to-income (DTI) ratio, and low leverage of 63%, for a sustainable loan-to-value ratio.

Transportation, automotive, healthcare, and commercial real estate are the sectors most affected, but borrowers are doing better than expected.

The notes are expandable so that at any time during that revolving period the issuer can upsize the notes, to a maximum of $500 million in the deal.

The Charlotte, North Carolina-based bank saw profits and net interest income dip in the second quarter, but made up lost revenue through investment banking fees.

A Rocket Mortgage securitization is the first private investor deal with a high share of e-notes, and the company is considering use with another loan product type.

The class A and class B notes benefit from credit enhancement levels of 12.50% and 8.75%, respectively, and the class A notes benefit from the subordination of class B certificates.

The investment banking giant said that it will "moderate" its pace of share repurchases as it continues to talk to the Federal Reserve, which recently increased its stress capital buffer from 5.5% to 6.4%.

Property insurance and taxes account for over one-third of current loan performance risk, according to Auction.com's recent survey of default servicing leaders.

Known at BLAST 2024-3, the deal will issue five classes of notes with subprime auto loans serving as collateral, even if the pool is upsized to $680 million.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

The wireless infrastructure industry has positive fundamentals, with all major U.S. carriers making further network infrastructure investments to boost coverage and capacity to meet growth in wireless data traffic.

A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.