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Rocket argues it was unfairly tied to discrimination accusations, arguing the government aimed for "headline-grabbing claims" to bolster its case.

Underwriting methods have been steadily shifting to traditional full documentation, which accounts for 13.3% in the VERUS 2024-9, KBRA said, its largest share since VERUS 2024-6.

The Federal Reserve chair is not concerned about President-elect Trump nominating his successor well in advance of the end of his term in 2026, saying he is "confident" he will have a productive relationship with the next Treasury Secretary.

The rally left yields lower by at least three basis points, with short maturities — more sensitive to Fed policy changes — falling the most.

The group is calling for the Trump administration to preserve certain features if it picks up where it left off and finishes cutting ties to the Treasury.

Notes will repay investors through a modified sequential-payment structure. Senior notes will repay on a pro rata basis. Otherwise, the principal classes will repay principal until the balance in the senior classes equal zero.

Moody's says its cumulative net loss expectation for the PFAST 2024-1 pool is 0.70%, and puts its losses on the Aaa stress level at 4.75%.

HPS founders Scott Kapnick, Scot French and Michael Patterson will lead a new private financing solutions business unit with BlackRock as the company seeks to offer the full range of public fixed-income and alternative credit funds.

The market retraced an opening selloff, with longer-dated benchmarks outperforming the front end.

Federal Reserve Gov. Christopher Waller, a Trump appointee, said that while recent inflation readings are concerning, monetary policy would remain restrictive even if the central bank cuts interest rates by another quarter-point this month.