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The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.

The venture, dubbed Sculptor Loan Financing Partners, will manage investments in the equity tranches of Sculptor's own CLOs in the U.S. and Europe.

Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.

The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.

The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.

The bank is a top auto lender, with a managed portfolio of $7.1 million through December 2023, and has a strong servicing track record.

The initial protection amount, Moody's says, is 12.5% of the total reference pool and equals the principal amount of the rated and unrated issued notes.

Powell's remarks represented a shift in his message after a third straight month in which a key measure of inflation exceeded forecasts.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.