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The city claims it can build the rental units quicker through this mechanism rather than low income housing tax credits.

The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.

PRPM 2023-NQM3 Trust has issued residential mortgage-backed securities that are supported by 516 loans, 23% of which were originated by Newfi Lending.

Large retail, office, mixed-use and self-storage loans dominate the property pool.

Values declined in two regions and were flat in two others, according to the Federal Housing Finance Agency.

Despite tougher economic conditions, BNPL lenders are driving growth by expanding to new audiences and checkout channels, as well as fine-tuning proprietary risk-management models.

The S&P CoreLogic Case-Shiller index measures a period when 30-year mortgage rates were climbing toward 8%, shutting out increasing numbers of would-be homebuyers.

COVID-19 largesse enabled subprime borrowers to pay down debt and boost credit scores. Then interest rates rocketed up in 2022, and new subprime auto borrowers felt the pinch.

The A1 tranche of $172 million (66.8%) is rated as AAA by Fitch and KBRA.

The deal is Angel Oak Mortgage Trust's seventh RMBS transaction in 2023.