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Prime quality auto loans secure the pool, although recent rapid origination growth put some strain on and deterioration on the notes in the 2022 and 2023.

Larger banks are responsible for a special assessment to cover the costs of the failures of Silicon Valley Bank and Signature Bank. The price tag has ballooned by $4.1 billion, and trade groups are criticizing the FDIC's process, arguing that it lacks transparency.

The community development financial institution was the nation's top non-qualified mortgage lender last year, according to one ranking.

Analysts' base-case assumption is for the pool to see net losses of about 8.25%, and the AAA rating stress assumption is for a 36.0% loss.

KKR has been rapidly seeking to expand its asset-based financing business, which has about $48 billion in assets since starting up in 2016.

Federal Reserve Chair Jerome Powell last week suggested the central bank is getting close to the confidence it needs to start lowering interest rates.

The Long Island-based lender has released a number of new details about its reconfiguration following a $1 billion capital injection led by two former Trump administration officials.

Spreads are expected to come in ranging from 15 basis points over the 3M I-Curve on the A1 notes to 160 bps over the benchmark on the class D notes.

The inclusion of reclassified HECMs was seen as a potential credit shortcoming, as a small number had exceptions that are potentially meaningful, such as an expired or unapproved appraisal.

While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.