The Consumer Financial Protection Bureau received pointed pushback from banks in their public comments on a proposed rule that would slash the number of nonbanks being supervised in four key markets.

As the industry grapples with those questions, KBRA went ahead with ratings downgrades.

Federal Reserve Chair Jerome Powell said in a speech Tuesday that the central bank's policy stance is "modestly restrictive," a stance that will give the central bank flexibility to react to an uncertain economic future.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that steeper interest rate cuts should be on the table if the labor market continues to show signs of decline.

The non-prime collateral pool starts out with 56,336 contracts, and an average balance of $26,041, which could be upsized to 71,695 contracts, with an average balance of $26,034.

Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president's immigration and fiscal policies will exert downward pressure on inflation.

Coupons range from 4.17% on the A1 notes, rated P1/A1+ by Moody's and Fitch Ratings, respectively, to 5.38% on the class N notes, which S&P rates BB.

The average return on investment for flipped homes was 25.1% in the second quarter this year, the lowest point since the second quarter of 2008.

The U.S. Department of Justice declined prosecution after BofA Securities self-reported the violations and fixed major compliance gaps.

Notes are anticipated to repay in October 2032, with a final maturity date of December 2055.

Intermediary automation has increased the immediate availability of product, pricing and eligibility information to both sides of the mortgage business.

Loans for hotels and motels, except those that have casinos, account for 19.43% of the pool balance, the largest portion.