News and Information from Asset Securitization Report

Properties with default notices, scheduled auctions and REOs are up by double digits compared to last summer as buyers are mired in a high-cost environment.

The Consumer Financial Protection Bureau has notified employees of an upcoming reduction in force after its budget was cut in half by the president's recently passed tax and budget bill.

HYPER 2025-1 is DataBank Holdings' first hyperscale data center securitization, secured by the data centers in Virginia, Georgia, and New York.

The subordinate classes will always pay principal sequentially, but their repayments start after all the senior classes have been retired.

The 2025A bonds will have parity with all senior bonds that have been previously issued, and any senior bonds issued in future deals.

Falling interest rates led to a rush in refinancing, but slowing purchase activity brought a decline in overall lock volumes, according to Optimal Blue.

A federal district court judge granted an injunction allowing Federal Reserve Gov. Lisa Cook to remain on the central bank's board pending the outcome of her legal challenge to President Donald Trump's move to fire her late last month.

Credit enhancement could increase for the most senior outstanding classes of notes, however, as the notes repay investors sequentially over time.

Almost all the notes are fixed rate, except for the A2-B tranche which pay a coupon based on the one-month Secured Overnight Financing Rae (SOFR).

While August's views on buying conditions and rates increased over July, the other components in Fannie Mae's sentiment index all declined, driving it lower.

The deal features a full turbo amortization structure, where all collections will be applied to amortize the bond principal. No cash will be paid to the sponsor until the bonds are paid in full.

Black homeownership fell to 43.9% this summer, its lowest since 2021, as rising unemployment and federal layoffs widened housing gaps across demographics.

White House National Economic Council NEC Director Kevin Hassett endorsed insulating the Fed from political pressure but echoed Trump allies' calls for reevaluating its mission.

The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.

The assets' legal isolation means that the NCUA exercising its powers in a way that would reduce payments to the notes is a remote possibility.

Stephen Miran will take unpaid leave from and might seek to return to President Trump's Council of Economic Advisers, he said, raising conflict of interest questions in his nomination hearing for a seat on the Federal Reserve Board.

The 30-year conforming fixed rate mortgage ended this week at its lowest since last Oct. 17, helped by bond traders pricing in a reduction in short-term rates.

About 73.9% of the underlying mortgages were underwritten through debt service coverage ratio (DSCR) and 12- to 23 months of profit and loss and bank statements.

The deal will issue class A through class G certificates through a structure of eight tranches, which includes a payment-in-kind feature for the class E, F1, F2 and G certificates.

Federal Reserve Bank of St. Louis President Alberto G. Musalem said central bank autonomy leads to lower inflation and stable employment numbers. His comments come amid the Trump administration's attempt to remove a Fed board member for cause.

A pickup in refinances was offset by the first pullback in purchases in four weeks in the run-up to Labor Day, according to the Mortgage Bankers Association.

A pension fund has been suing former executives over two decades for misleading investors about the company's subprime holdings before the financial crisis.

Strategically introducing AI bolsters FIS' value added services, and improves clients' scalability and decision-making.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

Most big banks saw modest reductions in their requirements following this year's stress tests. The results come as the Fed prepares to smooth year-to-year swings with a new averaging rule.

Housing regulator Bill Pulte lodged more fraud allegations against Fed Governor Lisa Cook as she filed a temporary restraining order regarding attempts to remove her.

Notes are expected to pay a coupon of about 2.5% over the Swiss Average Rate Overnight (SARON) with an expected maturity of seven years.

Homeward Opportunities also includes an accumulation account to help fund drawdowns related to construction costs, among other costs.

The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.

The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

Ratings analysts caution that the notes have a WA life of about three years while, and the underlying asses have a WA remaining term of about 20 years.

The increase in purchase volume was not enough to offset the drop in refinance application submissions as conventional rates increased week-over-week.

Data suggests that the beleaguered commercial real estate market isn't going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn't be disastrous, analysts say.

The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.

Principal will only be paid out to Huntington's noteholders when each tranche of notes maintains a certain level of credit enhancement.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

While still higher than the norm, the reduction in this spread is good news when it comes to mortgage rates for potential homebuyers as well as current owners.

Marine vehicles and recreational vehicle loans compose half the collateral pool, 50.8%, but long original terms exposes the collateral pool to some risk.

Sponsors offer "consolation prizes" for lenders giving up rights to contest their place in the priority of repayments.

While the overall delinquency rate improved this summer, FHA-backed mortgage borrowers continued to exhibit concerning levels of payment stress in July.

A few structural changes are in SFUEL 2025-B, compared with SFUEL 2025-A, and the classes A and B notes benefit from higher subordination levels.

The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.

In a letter to federal leaders, the Community Home Lenders of America expressed views about a possible GSE merger and the need for "critical" mortgage products.

Most of the pool, 74.6%, was underwritten to less than full documentation. Of the pool loans, 38.2% of them were underwritten to a 12-month or 24-month bank statements.

Most of the capital structure will pay fixed-rates to noteholders, except for the A1B notes, which offers floating-rate notes pegged to the one-month SOFR.

Lagging tech adoption, issues with credit, and originators' rush to close refinances earlier this year contributed to deterioration, a study found.

Trump has yet to decide when Fannie Mae and Freddie Mac will return to the market in an IPO that regulator Bill Pulte says could top $1 trillion.

The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.

The collateral pool is composed of a mix of 939 first-lien loans, lent to highly qualified borrowers, and under tightened underwriting standards.

Fannie Mae economists toned down their housing and economic outlook in August, predicting fewer home sales and less mortgage origination volume versus July.

Elliott will advance the firm's strategic initiatives and business development initiatives and ensure that customer experiences are seamless.

The percentage of larger loans in HGVT-2 is 20.08%, S&P said. While that is lower than the 23.2% seen in the previous deal, it is still too high.

Most of the pool, 68.6%, is in the repayment phase, while 19.1% of the loans in the pool are in deferment.

The tests modeled how Fannie Mae and Freddie Mac would fare after absorbing losses like a total $36.1 billion provision in credit losses in a severe downturn.

The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.

The Consumer Financial Protection Bureau doubles its anticipated rulemaking agenda from last year, even as bureau employees expect mass layoffs.

One tenant accounts for 59.7% of the leased capacity and 56.4% of annualized adjusted base rent, but also has a AAA rating.

Advocates warned the Federal Housing Finance Agency that allowing cryptocurrency assets to be used in the underwriting of Fannie and Freddie mortgages risks taxpayer losses and market instability.

Real estate investor sentiment bounced back from two quarters of decline, but lingering fears around tariffs, interest rates still weigh on many buyers' minds

The entire pool was originated using agency underwriting, with PennyMac being the largest originator, and accounting for 66.1% of the mortgage loans.

The 30-year fixed rate mortgage fell by 5 basis points, with the Consumer Price Index showing muted inflation and jobs data still influencing the market.

Data centers across 20 markets will provide the revenues to support the notes. Also, the largest customer accounts for 6.5% of annualized monthly recurring revenue (AMRR).

New York Attorney General Letitia James alleges that Zelle's parent company, Early Warning Services, failed to adopt basic safeguards to combat fraud. The Consumer Financial Protection Bureau dismissed a similar lawsuit in March without an explanation.

Approximately 60% of economists surveyed by Wolters Kluwer believe the Federal Open Market Committee will act at its next meeting with a 25 basis point cut.