The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.

PRPM 2023-NQM3 Trust has issued residential mortgage-backed securities that are supported by 516 loans, 23% of which were originated by Newfi Lending.

Large retail, office, mixed-use and self-storage loans dominate the property pool.

Values declined in two regions and were flat in two others, according to the Federal Housing Finance Agency.

Despite tougher economic conditions, BNPL lenders are driving growth by expanding to new audiences and checkout channels, as well as fine-tuning proprietary risk-management models.

COVID-19 largesse enabled subprime borrowers to pay down debt and boost credit scores. Then interest rates rocketed up in 2022, and new subprime auto borrowers felt the pinch.

The A1 tranche of $172 million (66.8%) is rated as AAA by Fitch and KBRA.

The deal is Angel Oak Mortgage Trust's seventh RMBS transaction in 2023.

Major U.S. institutions and foreign buyers in runoff mode have swollen supply and created value for RMBS buyers. But rate cuts in 2024 could sap the strength of that tide.

Sponsors will invest additional capital to reconfigure the recently purchased Lord & Taylor lot and construct a residential mixed-use development of 550 units.

Credit enhancement consists of overcollateralization, excess spread of about 6.09%, subordination (except for the class D and class N notes), and a reserve account.

The real estate sector has been rocky in recent years. But for those investors willing to ride out the ups and downs, these 20 funds have paid off.