Yields on the benchmark 10-year Treasury also rose in the past week as bond and note auctions got tepid responses from investors.

Pricing guidance on the deal puts yields on the AAA notes at 5.9% and they range to 9.1% on the B- notes, and all of the certificates are priced over the three-month interpolated yield curve.

Fears that foreclosures and abandoned property rates could spike once Covid-19 moratoriums ended have not come to fruition, Attom Data Solutions said.

The portfolio consists of about 75.8% PPA agreements and 24% lease agreements, when measured by customer contracts with monthly payments

The Federal Housing Administration's clarification addresses interpretations of an 8th U.S. Circuit Court of Appeals decision that increased industry costs.

The pool luxury vehicle loans, which represent 5.4% of the pool, an increase from 4.0% from the level seen in VEROS 2023-1. The luxury vehicles had an average balance of $227,457, compared with $17,681 for all the loans in the pool.

A federal judge in Texas is locked in a back-and-forth with an appeals court over whether the industry's challenge to a cap on credit card late fees should be moved to Washington, D.C.

As the inflation reduction campaign has miles to go, banks considering credit risk transfers referencing commercial real estate could find enthusiastic investors.

Beth Hammack, who stepped down as the bank's co-head of global finance earlier this year, will take the helm as President of the Federal Reserve Bank of Cleveland later this summer following the retirement of longtime President Loretta Mester.

If approved by the Federal Housing Finance Agency, the program will not lead to large amounts of home equity being extracted, nor is it mission creep, wrote Keefe, Bruyette & Woods analyst Bose George.

In a speech, the Federal Reserve governor said she would have liked to see the Federal Open Market Committee move more quickly to reduce its holdings. The central bank is poised to begin slowing the pace of balance sheet runoff this week.

Marlette Funding partnered with Cross River Bank to originate the Prime loans, which account for 86.3% of the pool.