Executives from PNC, Regions and M&T are expressing confidence that their loan books can withstand a recession. "We don't see crisis-type things in front of us right now," said PNC Chief Financial Officer Robert Reilly.

The percentage of extended-term loans, 80.9%, is near the higher end in recent historical deals, but higher FICO scores are also a bigger portion of the pool.

The firms trimming payroll include lenders, a mortgage insurance giant, an iBuyer and an online notarization software provider.

The increases may simply reflect better detection and reporting, but banks continue to facilitate large ransom payments to sanctioned individuals.

Pagaya Structured Products had begun acquiring loans underwritten to tighter underwriting standards—especially among higher-risk borrower segments—in fall 2021.

That amount of consolidation would be a leap from the previous three-decade high of 33 in 2018, according to Stratmor.

Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Sunnova 2022-C shows borrowers with tighter credit qualifications, and initial OC, as a percentage of pool balance, is lower than Sunnova 2022-B's.

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.

Three of the note classes will issue deferrable notes, where the trust can defer interest payments to the notes under certain circumstances.

Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.