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Direct lenders are trying to get their hands on consumer loans, cutting into banks' business and taking advantage of the sometimes volatile market for asset-backed debt.

The case involves a house seized for a tax debt — but the state pocketed the profits.

Now that the national emergency is over some — but not all — government-related entities have set what may be final deadlines for this form of pandemic relief.

Democratic and Republican lawmakers alike pilloried former Silicon Valley Bank CEO Greg Becker over his compensation package.

The $500 million in notes from the current deal are part of a multi-issuance series consisting of classes A, B, C, and D, with a 21.00% level of credit enhancement on the class A notes.

Prime loans comprise the collateral pool, and the deal has a more diverse loan maturity profile than previous deals.

Funding conditions have eased since the height of financial-sector volatility in March, with US new issue concessions and average yields dropping.

But the percentage of loans in workout no longer current increased in April, the Mortgage Bankers Association found.

SDART 2023-2 will build overcollateralization (OC) as it amortizes, initially 23.75%, which is expected to build to a target OC level of 32.50%.

Compared with several previous Verus Securitization deals dating back to Verus 2022-8, the current transaction has the highest concentration of ARMs, at 33.9%.