The deal is the seventh prime jumbo issuance from Chase Home Lending Mortgage Trust in 2025.

The portfolio has high credit quality loans and geographic concentration.

New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the "medium to long term."

Moody's Ratings has assigned AAA to the Class A notes, which account for 87.3% of the transaction.

The transactions represent Hertz's 16th and 17th term ABS transactions from the Hertz Vehicle Financing platform.

The proceeds will finance the portfolio, which trades in the primary and secondary loan markets.

The CLO will include a $500 million portfolio of first-lien senior secured leveraged loans.

Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.

Last October's structural reorganization prepped the firm for this year's volatility.

The RMBS notes benefit from geographic diversity and credit enhancement.

The RMBS transaction is backed by first-lien, fixed- and adjustable-rate, fully amortizing residential mortgage loans, some with interest-only periods, to prime and non-prime borrowers.

Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.