The Latest

A rise in U.S. Treasury yields from very low levels in 2020, has resulted in diminished debt affordability, with interest payments-to-revenue hitting about 30% by 2035.

Unlike estimated excess spread, which increased to 13.2%, from 12.8% on the EART 2024-4 transaction, several other forms of credit enhancement levels dropped.

Pent-up demand and the rapid pace of home appreciation is fueling the ongoing rise in home prices, even as mortgage rates present obstacles for buyers.

The looming initial public offering from Swedish payments firm Klarna comes in the foreground of tariff uncertainties and inflationary pressures.

The capital structure supporting ALLO Issuer, series 2025-1, calls for senior fees and class A1L principal and interest to be paid first.

The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.

The bonds are tied to rights to collect mortgage payments, known as mortgage servicing rights, and it's only the second such deal that's non-recourse.

Second-lien loans make up virtually the entire pool, which carries some risk of poor recovery rates. Yet 78% of the pool is also considered safe-harbor mortgages.

For bond investors who'd been piling into Treasuries over recent weeks, Wednesday's Fed policy announcement offered vindication.

Borrowers are considered prime in this pool, but Fitch Ratings notes that delinquency rates have been increasing since 2022.