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The weighted average, base-case annualized gross loss declined from 11.78%, from 11.86%, because of minor changes in its assumptions of pool segment defaults.

The whole business deal, built around a master trust structure, will be repaid primarily from franchise royalty revenue.

Kevin Warsh's nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote.

The government-sponsored enterprise recorded $98.7 billion in single-family loan acquisitions to begin the year, including over $43 billion in refinances.

Yields across maturities rose by four to six basis points, with short-dated tenors most sensitive to Fed rate changes leading the shift.

The three class A notes, A1, A2 and A3, of GCAR 2026-2 notes will all benefit from hard credit enhancement levels, plus haircut to excess spread of 56.07%.

Issuance volume of asset-backed securities for the year through February 26, 2026

Underwriting league tables of asset-backed securities through February 26, 2026

Irrespective of the transaction's trigger status, PRKCM 2026-AFC3 will pay the A-1FCF first, until its balance is reduced to zero, and then to the A-1LCF until it is paid down.

Underwriting league tables of asset-backed securities through February 19, 2026