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Credit unions like to boast that they offer lower rates than banks, but many are bucking that trend to boost liquidity and offset other costs.

Weaker economic conditions, rising interest rates and expected changes in investment returns drove the reduced expectations, the Mortgage Bankers Association said.

The deal has a $10 million prefunding account that could purchase additional eligible receivables during a three-month period after closing.

Similar to recent transactions, the collateral pool includes loans with an original term greater than 72 months, which Ford adjusted for in the underwriting.

But with rates turning back up this past week, activity could fall in February, Black Knight Optimal Blue said.

In a speech on the central bank's regulatory agenda for the year, Federal Reserve Board Gov. Michelle Bowman said the merger-and-acquisition review process could benefit from added transparency.

Lenders and borrowers have just a few months to negotiate how they're going to ditch the disgraced Libor benchmark in the leveraged loan market, and time is of the essence.

LBZZ 2023-1 has a reduced recovery rate assumption on the current transaction at 50%, given deteriorating recovery trends and lower used vehicle values.

Martin Silver, 65, pleaded guilty in April, admitting that he conspired to defraud investors by overvaluing distressed loans and creating bogus documents and fake loans to hide losses.

The pro-rata/sequential hybrid structure provides some credit enhancement along with cumulative loss and delinquency trigger events and excess spread.