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New originations exceeded last year's tally by 30.5%, despite concerns about how rates might impact consumer financial strength. Auto ABS production revved up overall performance.

A solid majority of decision-makers at these companies expect to expand their workforces again this year, a Citizens Financial survey found. Loan losses are normally low in eras of economic expansion.

Mortgage lenders offered more cash-out refinance programs at a time when consumers might be coming to terms with the rate environment.

Aside from overcollateralization and subordination, the notes get support from a reserve account representing 0.96% of the pool and an incremental reserve account maintain 1.00%.

Biden's "Plan B" would see loans reduced or wiped out for millions of Americans — including those whose debt exceeds their original principal amount.

Senate Majority Leader Chuck Schumer, D-N.Y., said that he would like to examine the proposed acquisition on "narrower bases."

Series 2024-2 can be upsized to $1.5 billion from the base pool amount, but regardless of the increase, pricing guidance, total credit enhancements and legal final maturities are expected to remain the same.

Traders ceased fully pricing in a Fed rate cut before September after the March employment report revealed that US payrolls expanded by the most in nearly a year.

In a study posted weeks after it raised concerns about "junk fees," the Consumer Financial Protection Bureau noted that the amount of borrowers paying discount points doubled from 2021 to 2023, with the increase larger among consumers with lower credit scores.

At the pool level, loans have a weighted average minimum liquid reserve of $5 million, and at the loan level the minimum for liquid reserves is $1 million for sponsors without a FICO score.