Fannie Mae researchers found housing costs decelerating for the fourth straight quarter, but limited inventory may be driving hopeful buyers to look for opportunities in the new-construction market.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

Analysts have a base-case proxy of 1.2%, accounting for stress in the agricultural sector, which includes higher default levels from the 2006-2009 and 2015-2017 vintages.

As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.

Some 74.8% of the loans had original terms greater than 60 months, higher than 68.5% than the FAST 2020.

The proposal marks a concession for Republicans, but it's designed more to start negotiations with the White House rather than pass the Democratic-controlled Senate.

The current ABS pool is more heavily weighted toward large balances. Accounts with balances of $10,000 or more account for 49.9% of the pool.

Despite dearth of new loans, retail investors' exit from loan funds provides CLOs with new-issue supply.

NaviRefi loans account for 30% of the collateral securing the Navient Private Education Refi Loan Trust, 2023-A's. It is a noticeably higher amount than the previous deal, the 2022-B, which contained a 21% concentration.

The largest U.S. bank by assets raised its forecast for net interest income in 2023 to $81 billion from $74 billion, a positive sign for investors wondering how an economic downturn might weigh on profits.

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.

DriveTime is a prolific issuer, but this is the program's second securitization of the year.