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Raskin’s chances for the post evaporated after Senator Joe Manchin of West Virginia, a pivotal Democratic vote in the 50-50 Senate, announced he wouldn’t support her.

The term note maturity is also relatively short, and has a scheduled amortization term, which KBRA considers to be a credit strength.

It’s the latest indication of rapid inflation in the U.S., and prices are poised to accelerate further after Russia’s invasion of Ukraine sent prices of some raw materials to new highs.

Despite relatively stable performances for the majority of the pool since the previous rating action, concerns remain about the pool’s high exposure to the two loans.

Executives speak on the uncertainty created by the Russia-Ukraine war and Federal Reserve announcements.

The West Virginia Democrat released a statement Monday saying that Sarah Bloom Raskin, President Biden's nominee to serve as the Federal Reserve's top regulator, "failed to satisfactorily address my concerns" and that he would not support her. Manchin's "no" vote puts her confirmation very much in doubt.

Self-employed borrowers accounted for 29.8% of the pool, while loans with co-borrowers and multiple borrowers accounted for 39.9% and 9.8%, respectively.

Purchase lending grew despite headwinds in mortgage rates and rising home values.

The Fed is the drawcard among eight Group-of-20 members whose monetary officials are due this week to assess economic prospects.

The U.S. economy is relatively insulated from the events unfolding in Eastern Europe. Western Europe may be affected indirectly by higher energy prices.