The energy company has asked banks to arrange calls with investors on Monday to discuss the offering. That makes it a candidate to sell debt as soon as Tuesday.

The Charlotte, North Carolina-based bank saw profits and net interest income dip in the second quarter, but made up lost revenue through investment banking fees.

Also, 3.3% of the pool are closed-end loans with second lien priority underwritten with various documentation methods.

The anticipated losses follow a hit to investors in a U.S. CMBS last month. Buyers of the AAA portion of a note backed by the mortgage on a building in midtown Manhattan got less than three-quarters of their original investment back after the loan was sold at a steep discount.

So far this year, his team has overseen about $78.4 billion of high-grade bond issuance, making BofA the third-biggest underwriter in the market.

The latest round of global capital rules, known as Basel III endgame, is expected to make a whole slew of loans more expensive for banks to hang onto, so the lenders are bundling more auto loans, and other kinds of debt into asset-backed securities.

The AA, A and BBB notes have 12.7%, 12.5% and 7.0% in credit support, which included excess spread.

While the total credit enhancement package is higher to overcollateralization, which represents 1.00% of the pool balance, was lower than the 3.00% seen on the HGVT 2023-1 deal.

Rocket is contributing all 5,455 closed-end loans in the collateral pool, and it is an 'above average' originator. One of the deal's positive highlights is that 27.0% of the assets by unpaid principal balance, were subject to third-party due diligence review.

As of Dec. 31, 2023, according to Moody's, the portfolio's delinquency rate was higher than the rating agency had observed in previous MBFS-sponsored transactions dating back to 2019, but it was still extremely low, at 1.46%.

The capital structure features initial exchangeable notes among the class A, mezzanine and B1 notes. The super senior and senior support tranches will repay noteholders on a pro-rata basis.

Note payments are linked to two tranched credit default swap (CDS) transactions, one related to the reference obligation between the issuer and SoFi Bank and SoFi Lending and the Issuer.

The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.

The bank is a top auto lender, with a managed portfolio of $7.1 million through December 2023, and has a strong servicing track record.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

BJETS 2024-1 has leases and loans on 31 business jets in the collateral pool, 12 from Gulfstream and 11 from Bombardier, the two largest contributors.

The underlying loans have a (WA) FICO score of 734 across the statistical pool on the current deal, after coming in at 729 score seen on the previous deal, the HINNT 2022-A.

The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.

Revenue from auto dealer floorplan receivables will secure $920.2 million in class A notes from the Nissan Master Owner Trust Receivables, both series 2024-A and 2024-B, according to Moody's Investors Service.

The transaction could be upsized to $1.3 billion in issuance, supported by fixed-rate loans on mostly new agricultural equipment.