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A Department of Government Efficiency team is working with FDIC leadership to "increase efficiency," which could include cuts to contracts and streamlining staff. FDIC says DOGE staffers have "appropriate clearances."

The latest foreclosure report adds to evidence from housing research groups that economic difficulties are beginning to impact a rising number of homeowners.

Moderate leverage is one example of cleaner credit, as the current collateral pool's original loan-to-value (LTV) ratio is 69.1%, down from 71.7% on the 2024-NQM1 series.

The slowdown reflected a decline in energy costs, used vehicles, and airfares. Motor vehicle insurance — a main source of inflation in recent years — also retreated.

The property is competitive, with overall sales of about $570 million in 2021, but the deal is short on upfront reserves to cover outstanding landlord obligations, like free/gap rent.

Pres. Trump's decision to pause most of the tariffs has sparked a rally in the stock market, but the 10-year yield, while off of its peak, remains higher.

The yield on 30-year Treasuries briefly pushed over 5% in Asia and the pressure seeped into other markets, with yields rising sharply in Australia, the UK and in the developing world.

In a speech at the American Bankers Association Washington Summit Wednesday morning, Treasury Secretary Scott Bessent downplayed economic risks from tariffs, floated capital reforms and urged regulatory relief for community banks.

It's bringing back memories of the basis-trade unwinds at the onset of the pandemic — when widespread deleveraging sparked blowups of the popular hedge fund strategy that sent bonds tumbling.

Wholesale firm Ardri's acquisition of The Lending Spot comes after the company installed a mortgage industry veteran as its new president earlier this year.