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The fund, Sound Point Meridian Capital, invests in CLO equity. Fewer than 10 of these closed-end funds trade now, partly because starting one requires a backer willing to leave the money invested for years.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.

The pool contains 494,987 accounts, where the top borrower accounts for 0.32%, and the top five account for 1.19%, and its granularity counts as a positive credit attribute.

A Northwest credit union announced plans this week to buy a community bank, lifting the 2024 total of such deals to 13 and putting the year on track to set a record. The all-time annual high of 16 was set in 2022.

Retail properties account for the largest portion, at 23.5%, according to KBRA. Lodging follows, with 22.1% of the pool.

Nearly two-thirds of consumers in a July survey said they expect mortgage rates to decline soon, but most want to see them cross a very specific threshold before they act, Mphasis Digital Risk found.

Traders are pricing in 34 basis points worth of easing at the Fed's September gathering, trimming their expectations from a day earlier — and lowering the odds of a half-point cut at the next central bank meeting to about one-third.

Thanh Roettele will help guide the Canadian bank's growth in the mortgage warehouse space in one of its latest moves aimed at the U.S. market.

The figures, to be published Wednesday by the Bureau of Labor Statistics, will probably show the consumer price index, and a "core" gauge excluding food and energy, both advanced 0.2% in July.

The notes will repay investors sequentially, after a two-year revolving period. That's when proceeds from principal payoffs can be reinvested in the deal through newly originated loans added to the pool.