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The withdrawal of pandemic housing relief and high home prices have heightened consumer strain, according to nonprofit Money Management International.

Total sales of new asset-backed securities are projected to reach $280 billion next year, edging out the $277 billion forecast for this year, strategist Powell Eddins wrote in an Oct. 31 note.

The transaction structure benefits from several forms of credit enhancement to the deal, including advance rates of 55.0%, 66.5% and 76.5% on the classes A, B and C notes, and a rapid amortization trigger event.

Heads of the three major bank regulatory agencies made their case for why the recently finalized framework implementing the Community Reinvestment Act is not all bad for the banks subjected to it.

Full-term, interest-only loans account for 98.4% of the pool, while just two loans, or 1.6% are financed with an amortizing balloon. Analysts expect a cap rate of 9.19% capitalization rate to the underlying properties.

In one of the deal's positive credit attributes, none of the underlying loans in the collateral have terms longer than 72 months. Such longer-term loans have historically performed worse than shorter-term loans.

But the company was profitable for the second consecutive period under standard accounting principles in the third quarter.

Federal Reserve Vice Chair for Supervision Michael Barr says that while there has been some opposition to the recent overhaul of Community Reinvestment Act regulations, he expects that banks, supervisors and communities will adapt and thrive once it's fully implemented.

The Wall Street bank recently shifted its bond recommendation to neutral from underweight — for the first time since June 2020 — though has so far stopped short of an overweight call.

The A1 and A2 notes, the two senior notes in the payment priority, have the same level of total hard credit enhancement, 17.6%.