By property type, lodging assets led the way for total delinquencies, with 6.3%, while some 3.5% of the lodging pools were current and specially serviced.

But the sluggish pace of refinances brought down overall application numbers last week.

Homes securing the portfolio produce an average monthly rent of $2,405, based on gross potential rent for vacant properties, and an average remaining lease term of eight months.

The share of existing properties acquired by single-family rental providers has fallen by 24 percentage points since 2019, while surging BFR numbers made up much of the difference.

Sen. Pat Toomey, R-Pa., is accusing the Consumer Financial Protection Bureau of pressuring Equifax, Experian and Transunion into removing most medical debt from credit reports, a move he says would compromise lenders' ability to gauge risk. Democrats, experts who testified at a hearing Tuesday and the CFPB pushed back.

Securitization would have to see more cycles before the full effect of the COVID-19 pandemic becomes apparent, but loans backing multi-borrower SFRs show more sensitivity to rent collection disruptions.

The transaction is the company’s first securitization deal, and uses cash trapping triggers and rapid amortization events for credit enhancement.

More than half of the seriously delinquent mortgages that did not have this type of payment relief were originated prior to ability-to-repay requirements enacted following the Great Recession, the latest Federal Reserve Bank of Philadelphia study found.

Home prices have increased at their fastest rate since the mid-2000s housing boom and driven skyrocketing inflation. Fed Gov. Christopher Waller says lenders are better prepared for a shock than in 2007 but still need to be monitored — especially nonbank lenders.

Almost all of the loans, 96.9%, were underwritten on less than full documentation, and the collateral’s weighted average DTI is 37.9%.

Non-QM assets overlap almost perfectly with the portion of loans, 52%, financing properties where the borrower intends to maintain as a primary residence.

Sharkey counsels CLO managers, investors and arrangers on warehouse financings, collateral fund obligations, CLO business acquisitions and portfolio sales.