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Federal Reserve Bank of Atlanta President Raphael Bostic won't seek reappointment following the end of his current term on Feb. 28, 2026.

While the figures show a decrease in growth from the prior year, when the value of the securitizations rose 23% to about $572 billion, it still underscores the rapid pace of synthetic risk transfers expansion.

Second-lien mortgages make up the collateral pool. Those assets normally have a high expected loss severity, but the borrowers appear to be of prime credit quality.

Rate-and-term refinances dropped 14% month over month in October, but were still up 143% from last year.

The Department of Justice told a court that the Consumer Financial Protection Bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB.

In addition to that subordination, the deal structure includes cash trap and sweep conditions to support cash flow to the deal.

Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.

Bessent spoke a week after Democrats won several key elections by zeroing in concerns over the cost of living, including housing, groceries, utilities and health care. Trump himself has rebuffed such concerns.

With borrowing costs near multi-year lows, median equity distributions for the securities reached an annualized rate of 12.1%, the lowest since 2020.

Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.