The public and large institution segment make up 89.7% of obligors, up from the 87.7% seen in DEFT 2025-2, an increase that was driven largely by an increase in the large enterprise institution segment.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
The proceeds from PAID 2026-R2 will fund a purchase account, which will purchase unsecured consumer loans from PAID 2024-2 and 2024-3.
Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.
Loans with original terms longer than 60 months now represent 71.7% of the pool, up from 70.4% in the prior deal.
The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.
