A Connecticut-based couple sued the bank and Cavanaugh Appraisals, LLC for denying them a refinance in 2021 because of racial bias.

Initial hard credit enhancement ranges from 24.40% on class A notes to 7.70% on the class D notes. At closing, overcollateralization will be 6.70%, building to a target of 12.50%.

The Fed's announcement is responsible for a 19 basis point drop in the 10-year yield over a two-day period, pushing the 30-year fixed under 7% for the first time since August, Freddie Mac said.

The Federal Reserve has allowed more than $1 trillion of assets to roll off its balance sheet. Chair Jerome Powell says he doesn't believe reserves in the banking system are nearing a level that would cause the Fed to slow down or stop.

Scott Stengel, who has been Ally's general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.

The A1 and A2 notes have a revolving period during which investors will receive fixed-rate and floating-rate payments, respectively.

Williams co-founded financial advisory and consulting firms Simatree and Galway Holdings, and is a retired NBA player and ESPN host.

Falling interest rates are behind a recent spike in government-backed lending as well as refinances, according to the Mortgage Bankers Association.

Overall, the loans also have a weighted average (WA) FICO score of 742, an original cumulative loan-to-value ratio of 77.9%, and debt-to-income ratio of 37.5%.

While mortgage assumptions are on the rise, so too are complaints leveled against mortgage servicers for how they handle the loans. A common refrain is that the companies are moving too slowly.

A cash collateral account secures the principal payments, which makes SBNA's credit-linked notes deal a bit different from other bank-sponsored credit-linked note deals—albeit similar to SBCLN 2023-A.

Decreasing availability of jumbo and non-QM products accounted for most of November's pullback, as other types of loan offerings saw minimal changes, the Mortgage Bankers Association said.