Among the credit challenges, is the lack of amortization on the loans, and the loans are heavily concentrated among states and MSAs.

"Fed watchers will be parsing Powell's comments for signs that a 50bp rate cut is on the table for September," noted Lauren Saidel-Baker, an economist with ITR Economics. "However, the notoriously tight-lipped chair is unlikely to confirm this, making a 25bp cut the most likely outcome."

Mortgage professionals interviewed say there should be more focus on increasing housing supply.

Fora Financial Asset Securitization, 2024-1, is the first for Fora Financial since 2021, and its third securitization overall. Tier 2 saw the greatest shift in credit distributions among the six credit tiers since the last deal.

The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."

FCI Funding 2024-1 has an additional tax liens account that can purchase up to $23 million of qualified assets on or prior to the second anniversary of the deal's closing date, while the subsequent tax lien account will be funded to $5 million for use during the reinvestment period.

Asset manager-led transactions targeting asset-based finance (ABF) gained momentum following the regional banking crisis, which are typically the go-to for consumer and small business loans.

Investor demand for loans made outside the qualified mortgage definition can shift over time. It's recently been going through a period of particular strength.

Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.

The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.

The transaction's notes have increased excess spread, as well as some structural optimization by the issuer, S&P said, which helps account for lower total initial hard credit enhancement levels for all classes of notes.