Prime and non-prime mortgages back the notes, and a significant portion of the collateral are loans from a Community Development Financial Institution.

Central banks' aggressive interest-rate hikes to tame inflation have increased the likelihood of borrowers' interest-rate coverage falling short.

The agreement, the lender and servicer's only such facility, is set to expire at the end of next September.

HPEFS, 2022-3, is one of the smallest securitized transactions to be issued from the program in two years, and it has the smallest aggregate contract balance.

Since last year, GoodLeap had expanded its offerings to include Home Efficiency Loans, funding a range of improvements such as LED lighting, HVAC, and generators.

The central bank has recently stepped up its efforts to reduce its balance sheet, but doing that without forcing a liquidity crunch requires careful planning.

Decline was largely driven by a large dip in cash-out refinance locks.

The company previously announced it would also close its consumer-direct operations, which relied heavily on refinance activity.

Only credit card ABS and residential MBS saw increases, while other major asset classes dipped. Production in private SLABS dipped about 44%.

During a visit to Buffalo on Friday, New York Federal Reserve President John Williams said the central bank may need to keep cranking up interest rates to gain greater control over high inflation.

In one notable change from the previous deal, PART 2021-1, the percentage of bankruptcy collateral decreased to 18.58%, from 44.27%.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.