DEFT overcomes residual value risk and obligor concentration with a majority of companies that have strong credit profiles.

A 1.16% rate of excess spread, subordination of the class B notes and a liquidity reserve provide credit enhancement to a deal financing far more PACE loans extended in Florida.

A larger share of sellers were optimistic in May, but the percentage of enthusiastic buyers fell, according to Fannie Mae's Home Purchase Sentiment Index.

Market professionals fear a pending circuit court decision could significantly disrupt term loan B and CLO markets.

But activity is still very low, as just 1% of the market is in the position to refinance thanks to high interest rates, Keefe, Bruyette & Woods said.

Santander will provide a letter of credit, which is sized to cover up to five months of missed interest payments should the trust default on its interest obligations or fall under FDIC receivership.

The Providence, R.I.-based bank has been scaling down its indirect auto lending program since last year.

A true-up mechanism is uncapped and will mandatorily adjust the charges at least semi-annually to ensure that the trust has adequate funds to make timely principal and interest on the bonds.

Construction activity in smaller cities also saw a significant annual decline, according to the National Association of Home Builders.

The Berkshire Hathaway unit first invested in the underwriter in May 2022. Previously it was wholly owned by Realogy.

The deal will issue two series of notes, 2023-1 and 2023-1 from the master trust. Both series will issue classes A and B notes, but in both cases only the class A notes will be publicly offered.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.