The Consumer Financial Protection Bureau said “time is running out” for military student loan borrowers to obtain debt relief under the Public Service Loan Forgiveness program.

The deal includes loans, for which Foursight has purchased insurance policies to cover any deficiency balances on the defaulted contracts and liquidation proceeds.

Fitch lowered its outlooks to ‘neutral’ from ‘improving’ for the hotel, industrial and multifamily CMBS sectors while DBRS expects falling CMBS payoff rates.

The McLean, Virginia, company is starting to “trim around the edges” of its auto portfolio, CEO Richard Fairbank said. That move stands in contrast with Capital One's leaning into its credit card business, which helped push marketing spending above $1 billion.

MF1 2022-FL10, MF1’s third this year, securitizes 24 floating-rate mortgage loans secured by 34 transitional multifamily and manufactured housing properties.

The deal has a $40 million subordinated portion that compares to the $497 million Dryden 108 CLO Ltd., which has a much larger ‘AAA’-rated class A-1 portion.

The jump for second mortgages and bank cards was even more pronounced, according to indices published by Standard & Poor’s and Experian.

Unlike some of its peers, the Dallas bank says the U.S. economy is strong, clients are upbeat and lending momentum continues.

The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.

New single-family home mortgage applications, housing starts and industry sentiment all came in at their lowest since 2020.

Of note is a step-up interest feature on classes A-1, A-2 and A-3, where certificates will receive the sum of the applicable fixed coupon and a step-up interest rate of 1.0%.