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The deal also includes a series of exchangeable notes that will pay variable rates.

Inflation accelerated again in May as the Iran war pushed up energy prices, outpacing wages for a second straight month. The consumer price index climbed 4.2% from a year earlier.

The deal includes recently introduced senior first class flow (A-1FCF) and last cash flow (A-1LCF) tranches, which benefit from credit enhancement levels of 24.70%.

Refinancing activity continues to build on last year's momentum, despite some divergence among property types.

Canyon ABF Partners will provide capital to specialty lenders and regional banks and be a rapid acquisition and structuring vehicle for primary and secondary loans on a range of assets.

Approximately 54% of homeowners looked to a second lien product to access their home's stored value in the first quarter due to the "lock-in effect."

The catalysts for higher rates are strengthening even as President Donald Trump renews his calls for looser monetary policy on the eve of the first Fed policy meeting led by new Chairman Kevin Warsh.

The Federal Reserve governor warned in a speech Saturday that lower capital requirements and lighter supervision could create a credit 'sugar high' that could spur excessive risk-taking, with potentially significant long-term consequences.

Self-employed borrowers represent just 23.1% of the pool, and liquid reserves were $858,428 compared with 21.9% and $1 million.

This series of CarMax Select Receivables notes is offering 8.42% in excess spread, a reduction from 9.85% on the CMXS 2026-A notes.