News and Information from Asset Securitization Report

Proceeds will cover storm restoration costs stemming from a series of severe storms, including hurricanes Helene in 2024, Ian and Zeta in 2020, and winter storm Izzy in 2022.

As the deal's servicer, GLS is considered less able to mitigate non-collateral risks on behalf of securitization bondholders, it is still experienced, with more than 35 ABS deals.

The Supreme Court said Wednesday that it would defer President Donald Trump's request for a stay until after oral arguments scheduled for January 2026, allowing Federal Reserve Governor Lisa Cook to remain on the board at least until then.

There's just one catch. Investors are embracing the securitizations backed by crops, and other farm assets, faster than farmers.

In a unanimous vote, the Board of Governors moved to lower Morgan Stanley's stress capital buffer requirement to 4.3%, down from a preliminary 5.1% based on this year's stress test results.

The FHA extended the mandatory implementation date for technical updates but things are still changing on Oct. 1, when the government could shut down.

Almost all the mortgages were written through alternative income documentation, primarily for investment properties, and the entire pool benefits from third-party due diligence.

Johnson will be based in New York and joins a business development team focused on originating for Sagard's private credit business.

Performance in recent vintages of Tesla leases, specifically 2024, had weakened recently, leading to increased credit loss expectation for the deal by 0.75%.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., led a group of congressional Democrats in a letter to bank regulators telling them that loosening capital rules wouldn't improve the Treasury market's functioning.

A significant percentage of the Barclays Dryrock accounts, about 74.2%, were co-branded with 13 different partner credit card accounts.

Credit performance in Ford's managed portfolio normalized recently, with June 2025, delinquencies reaching 1.38%. That was higher than 1.19% from a year prior, but lower than 1.62% at yearend 2019.

During sequential interest amortization, interest on TIP Solar's class B notes will be deferred until the interest and principal on the class A notes and class B's outstanding principal amount are all paid.

The CDFI Fund is updating definitions of eligible activity to be considered for the funds, including removing climate-focused financing and references to race and ethnicity.

When weighing investments, the CLO equity investor also considers strategies on liability management exercises when considering investments.

O'Donnell, a partner, will work in its New York office and Menon is a director in London.

Mortgage applications increased 0.6% last week after jumping 29.7% the week prior, according to the Mortgage Bankers Association.

The latest reports from ICE Mortgage Technology and VantageScore appear to be in line with hints at growing borrower pressure officials are eyeing in policy.

Among other credit boosting measures, the structure also prohibits any interest from being advanced on loans that are more than 90 days delinquent.

The Consumer Financial Protection Bureau received pointed pushback from banks in their public comments on a proposed rule that would slash the number of nonbanks being supervised in four key markets.

As the industry grapples with those questions, KBRA went ahead with ratings downgrades.

Federal Reserve Chair Jerome Powell said in a speech Tuesday that the central bank's policy stance is "modestly restrictive," a stance that will give the central bank flexibility to react to an uncertain economic future.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that steeper interest rate cuts should be on the table if the labor market continues to show signs of decline.

The non-prime collateral pool starts out with 56,336 contracts, and an average balance of $26,041, which could be upsized to 71,695 contracts, with an average balance of $26,034.

Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president's immigration and fiscal policies will exert downward pressure on inflation.

Coupons range from 4.17% on the A1 notes, rated P1/A1+ by Moody's and Fitch Ratings, respectively, to 5.38% on the class N notes, which S&P rates BB.

The average return on investment for flipped homes was 25.1% in the second quarter this year, the lowest point since the second quarter of 2008.

The U.S. Department of Justice declined prosecution after BofA Securities self-reported the violations and fixed major compliance gaps.

Notes are anticipated to repay in October 2032, with a final maturity date of December 2055.

Loans for hotels and motels, except those that have casinos, account for 19.43% of the pool balance, the largest portion.

President Donald Trump asked the Supreme Court to reverse a lower court ruling allowing Federal Reserve Gov. Lisa Cook to remain in office pending the outcome of her lawsuit challenging Trump's move to fire her late last month.

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.

Some 63.8% of the assets in the pool are modified loans, and for 92.6% of those loans, the modifications happened more than two years ago.

New-home loan activity rose 1% in August year over year, but applications fell 6% from July.

In Zayo Issuer's payment structure, senior fees are paid first and then interest is paid monthly on all remaining outstanding classes of notes.

As President Trump calls for scrapping quarterly earnings reports and switching to a six-month schedule, industry observers wonder whether the time saved would be worth the potential loss of transparency.

TLOT 2025-B has a couple of other credit strengths, including Toyota's experience as a sponsor and servicer, and the underlying loans' strong quality.

The A1A notes benefit from credit enhancement levels that equal 30% of the note balance in that tranche.

The deal must own at least eight assets, otherwise it will begin to use any excess cash to fully pay down the notes.

The Mortgage Bankers Association leader cited past objections on anti-competitive grounds as Trump administration officials showed signs of progress on reform.

The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.

According to media reports, Tricolor suspended operations and furloughed its staff, with plans to liquidate.

Origin Bancorp, Renasant Bank and Triumph Financial are the latest financial institutions to report exposure to the bankrupt auto lender Tricolor, joining a list that includes Fifth Third, Barclays and JPMorganChase.

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 told its staff to expect an upcoming reduction in force because the agency's 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.

Opposition is building against a bipartisan bill that would raise deposit insurance for business accounts, with increased deposit insurance premiums a chief concern.

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.

As Washington weighs a national housing emergency, U.S. homeownership has slipped year-over-year, according to Redfin.

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.