The inaugural deal is expected to close by the end of the month. Among its structural features are cash trap and cash sweep provisions.

The Consumer Financial Protection Bureau's research found that the majority of buy now/pay later users are subprime borrowers, holding high credit card balances and multiple loans, suggesting the offering is riskier to lenders than previously assumed.

A cohort of bank industry interest groups called for the incoming Trump administration to pause all pending bank regulation and litigation and extend the timelines for implementing final rules issued by the Biden administration.

The prime pool can be upsized to $1.7 billion, and the base pool amount has a lower securitization discount rate of 9.60%, lower than the previous deal from this program.

The current deal adds a class E tranche, which provides subordination to the pool, unlike previous Oportun transactions dating back to 2022.

Fitch Rating says it noticed a greater preference for consumers to use cellphones for a longer period and previously decreased the assumptions for upgrade losses to 0.25%, from 0.35%.

Even though senior home values are still near the all-time high, other data shows fewer are turning to reverse mortgages to ease a potential financial crunch.

In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.

In both scenarios of the 2025-1 series, the capital structure will issue notes through about eight tranches, including an overcollateralization piece representing 5.15% of the pool balance.

Seen by many as a logical pick for the Federal Reserve's next vice chair for supervision, Gov. Michelle Bowman wants the institution to focus on safety and soundness issues, tailoring and transparency.

Classes A through E, do not allow for payment-in-kind, which allows borrowers to use assets other than cash—such as equity or shares—to make interest payments.

The senior certificates get credit protection from a specified lockout period, when the subordinate classes will receive no unscheduled principal payments from the collateral mortgages.