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Credit support includes subordination of 3.5% from the B and C notes, excess spread of 14% and a reserve account that will start at zero on closing, then build up to 5% of the pool's invested amount.

The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.

The transaction will not have a set collateral pool at closing, but a prefunding account will support issued notes during an initial two-month prefunding period.

Slated to close on June 13, Regional Management Issuance will pay notes on the 15 of each month, beginning in July 2024. With a May 31, 2024 initial cut-off date, the transaction has a three-year revolving period ending May 31, 2027.

Aira has secured €200 million ($217 million) in commitments from the European Union's biggest bank. The money will go toward installing heat pumps in thousands of homes across Germany.

The long-troubled lender owes at least $40 million to mortgage industry counterparties and tax collectors, it said.

A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry's growth, experts say.

The AA, A and BBB notes have 12.7%, 12.5% and 7.0% in credit support, which included excess spread.

This is the latest in a series of whole business securitizations issued by Planet Fitness. In January 2022, it sold a $975 million deal, on which Guggenheim was also sole structuring advisor and bookrunner.

The Consumer Financial Protection Bureau Monday completed its rule establishing a nationwide database for a wide swath of financial companies — including payments companies, debt collectors, auto lenders — that have faced regulatory or legal penalties for consumer-related infractions.