The number of homes with default notices, scheduled auctions or bank repossessions last month was down from January but up 20% from a year ago.

All tranches have lower levels of credit enhancement, compared with the AFRMT 2026-1 transaction.

The A2 tranche in the 2026-1 series will issue the bulk of notes $765 million, with an A- rating, and a March 2031 anticipated repayment date. Its legal final maturity date.

This is the first Carvana Auto Receivables Trust series to include new vehicles, with the percentage or loans on new cars at 2.65%.

CEO Anthony Hsieh said refinances should provide notable benefit to its direct lending unit a day after LoanDepot announced a return to the wholesale channel.

At an industry conference Tuesday, bankers said that an extended war with Iran will result in adverse economic conditions, including inflation.

Nonagency underwriting is expanding but the public sector is a different story due to recent performance issues, according to the Mortgage Bankers Association.

LendSure originated more than one third of the loans in the pool, while American Heritage Lending and The Loan Store represent 14.8% and 11.1% of the pool.

In the highest-priced housing markets, some buyers see adjustable-rate mortgages as the only loan they may initially qualify for, Cotality found.

The company dropped the broker channel just months after Frank Martell became CEO; now that Anthony Hsieh is running things again, LoanDepot brought it back.

Kalamata Offshore Feeder Fund II and Kalamata Onshore Fund, which have assets of $234.6 million, will provide performance guarantees.

Industry stakeholders say the Federal Reserve's renewed focus on reforming the discount window — the central bank's 'lender of last resort' facility — is welcome. But replacing the system with one that works better is easier said than done.