The 1,055 loans in the pool are primarily non-qualified mortgages and loans that are exempt from ability-to-repay rules, which represent 36.4% and 43.87% of the pool, respectively.
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Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.
August 28 -
About 85% of U.S. homeowners have interest rates below 6%, while a little over 50% of homeowners have a rate below 4%, Redfin's report said.
August 27 -
The transaction has a nine-month revolving period. All of the leases are closed end, where the issuer bears the residual value risk, and more of them can be added during that period.
August 27 -
The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.
August 27 -
The interagency Property Appraisal and Valuation Equity initiative, which was tasked by the Biden administration with rooting out bias in home valuations, appears to have run its course. But experts say it could be years before the group's efforts bear fruit.
August 26
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Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.
August 26 -
The concentration of electric vehicles also reached 17.8%, an increase from 15.3% in the 2024-B deal.
August 26 -
It is the third deal from the WOART program for the year, and could be upsized to $1.2 billion.
August 23 -
Vice President Kamala Harris' pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.
August 23 -
In his speech at the Federal Reserve's Jackson Hole Economic Symposium, the Fed chair said employment losses are now a bigger risk than elevated inflation.
August 23 -
Increased demand from borrowers may hinge on Federal Reserve Chair Jerome Powell and his colleagues cutting interest rates this fall.
August 22 -
Total initial credit enhancement includes over-collateralization representing 8.95% of the initial pool balance, which is expected to build to a targeted level of 13.95%.
August 22