A Fannie Mae survey-high 86% of prospective buyers said it was a bad time to buy a home in May.

Another positive is that 87.3% of the leases are open-ended contracts, where the lessee bears the residual value risk of the vehicle when the leases mature.

A Minnesota trade group and its co-plaintiff, Lake Central Bank, signaled that they plan to appeal a district court's dismissal of their lawsuit against the FDIC. The case involves the agency's guidance on nonsufficient funds fees.

Credit support includes subordination of 3.5% from the B and C notes, excess spread of 14% and a reserve account that will start at zero on closing, then build up to 5% of the pool's invested amount.

The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.

The transaction will not have a set collateral pool at closing, but a prefunding account will support issued notes during an initial two-month prefunding period.

Slated to close on June 13, Regional Management Issuance will pay notes on the 15 of each month, beginning in July 2024. With a May 31, 2024 initial cut-off date, the transaction has a three-year revolving period ending May 31, 2027.

The long-troubled lender owes at least $40 million to mortgage industry counterparties and tax collectors, it said.

A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry's growth, experts say.

The AA, A and BBB notes have 12.7%, 12.5% and 7.0% in credit support, which included excess spread.

The Consumer Financial Protection Bureau Monday completed its rule establishing a nationwide database for a wide swath of financial companies — including payments companies, debt collectors, auto lenders — that have faced regulatory or legal penalties for consumer-related infractions.

Yields on the notes are expected to range between 6.36% on the AA- and Aa2 notes--as rated by KBRA and Moody's Ratings, respectively–to 10.08% on the BB notes, as rated by KBRA.