News and Information from Asset Securitization Report

The veteran commercial real estate finance broker aims to change the status quo by increasing securitization efficiency.

Federal Reserve Gov. Christopher Waller said that criticisms of the Fed's balance sheet and calls to return to a scarce reserves system are misinformed, saying that much of the central bank's balance sheet is the result of activities outside the Fed's control.

The loans are secured by single-family residential properties, townhouses, planned-unit developments, condominiums, and two- to four-family residential properties.

The collateral is a portfolio of well-diversified, primarily senior secured leveraged European loans and bonds.

The 30-year fixed mortgage rate rose for the first time in six weeks, driven by Friday's strong jobs report and renewed uncertainty around tariffs.

The notes are enhanced by a credit risk transfer agreement with Fannie Mae.

Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.

The transaction is a securitization of 4,841 prime residential owner-occupied mortgages originated in England, Scotland and Wales by Newcastle Building Society.

The deal is the seventh prime jumbo issuance from Chase Home Lending Mortgage Trust in 2025.

The portfolio has high credit quality loans and geographic concentration.

New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the "medium to long term."

Moody's Ratings has assigned AAA to the Class A notes, which account for 87.3% of the transaction.

The transactions represent Hertz's 16th and 17th term ABS transactions from the Hertz Vehicle Financing platform.

The proceeds will finance the portfolio, which trades in the primary and secondary loan markets.

The CLO will include a $500 million portfolio of first-lien senior secured leveraged loans.

Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.

Last October's structural reorganization prepped the firm for this year's volatility.

The RMBS notes benefit from geographic diversity and credit enhancement.

The RMBS transaction is backed by first-lien, fixed- and adjustable-rate, fully amortizing residential mortgage loans, some with interest-only periods, to prime and non-prime borrowers.

Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.

After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.

The prime jumbo RMBS transaction is collateralized by 402 residential mortgage loans.

Diversity and metropolitan focus could provide resiliency in economic downturns

Federal Reserve Chair Jerome Powell was noncommittal about cutting interest rates at the central bank's next monetary policy meeting in July, saying future actions will depend on incoming data. His comments come as President Trump ramps up his criticism of the Fed chair.

Bill Pulte, regulator and conservator of entities that buy and securitize many mortgages, also reaffirmed he's 'not happy with" lenders' main score provider.

Eagle + West is Brookfield's premier luxury building at Greenpoint Landing.

BofA Securities, Australia and New Zealand Banking Group and Japan's SMBC Bank International are joint lead managers.

The Senate advanced the One Big Beautiful Bill Act through a procedural vote, opening the legislation for debate followed by Monday's vote-a-rama.

This transaction for 230 rental units follows a March $10 million affordable housing investment in Nevada Housing Division Mortgage Revenue Bonds.

The largest U.S. banks took less of a capital hit under the Federal Reserve's hypothetical stress scenario than they did last year, but averaging the two sets of results could impact next year's regulatory requirements.

Despite market volatility, market execs say, CLOs may see another year of record issuance

A revolving pool of Walmart-branded Mastercard accounts will support the deal, which presses ahead despite risks tied to U.S. tariff policy.

While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.

The Federal Reserve's preferred measure of inflation moved further from its 2% target, underscoring the central bank's reluctance to cut rates.

Although the collateral is described as non-prime, Moody's points to several strong credit characteristics, including an average non-zero FICO score of 697 and an eScore of 768.

Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.

The deal includes two triggers, one for debt service coverage ratio, and the other for loan-to-value ratio.

The deal also includes a cumulative default trigger that, if in effect, will revert the GDLP 2025-2 deal to a sequential payment priority.

One atypical feature, for an auto ABS deal, is that principal on the notes will be reduced in a reverse sequential order based on realized losses.

As the Federal Reserve considers changes to the supplemental leverage ratio, Fed Board Chair Jerome Powell said that effort is one piece of a broader deregulation package that will also address the Basel III capital rules.

Nonbank mortgage companies are regulated on the state level, but multistate examinations allow for virtual nationwide and industry-wide coverage.

Fannie Mae's June housing outlook was down from a month ago, reflecting expectations of a further slowing housing market.

They are not municipal bonds, but they follow municipal bond repayment practices.

The gap between costs and wages hit an inflection point and policy may determine what happens next, according to the Harvard Joint Center for Housing Studies.

Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.

The deal includes a step-up rate to the coupon for the A1A, A1B, A2 and A3 notes beginning in July 2029, and the increased rate will be equal to the original class coupon rate, plus 1%.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

Deputy Treasury Secretary Michael Faulkender says Basel capital rules need to fit the U.S. economy and avoid discouraging banks from lending.

The B, C and D tranches maintain minimum subordination percentages, 12.5%, 8.1% and 4.3%, respectively, allowing them to provide credit support for the class A notes.

Federal Reserve Chair Jerome Powell said the changes could touch the central bank's quarterly economic forecasts. He also discussed downsizing at the Fed and his tenure on the board of governors.

With a shifting pool mix, concentration limits and other restrictions applied to the new assets, Fitch gives the overall deal a 15.2% base case default expectation.

The Trump administration is seeking to fire roughly 90% of the Consumer Financial Protection Bureau's staff and is fighting for that right in court. But if the administration prevails, can other consumer protection authorities from other federal regulators pick up the slack?

OWN Equipment Fund has nine different equipment types that make up 96.39% of the pool's Net Orderly Liquidation Value (NOLV).

None of the economists surveyed by Wolters Kluwer predict the Fed will cut rates at this week's meeting, few expect one in July and 41% said after September.

In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.

There is also a significant portion of mortgages secured by investment properties, 44%, and overall 47.5% of the collateral pool is composed of non-qualified mortgages.

The notes will be repaid sequentially, and with subordination, a reserve account that can be replenished and overcollateralization, the notes receive greater credit enhancement over time.

Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.

A survey from Redfin reveals that Americans are unsure about how President Trump's policies will affect home prices.

The industry's biggest opportunities involve the evolving cost of capital, which will shift funding sources from the private, local lending markets to institutional sources.

The deal includes a replenishment mechanism that allows subsequent drawdowns on existing mortgages.

Secondary market interest in home equity contracts is drawing new participants, with 2025 securitization activity ahead of last year, industry leaders said.

A Trump-appointed judge refused to dismiss a settlement between the Consumer Financial Protection Bureau and a Chicago mortgage lender over lending practices that an appeals court already said violated the Equal Credit Opportunity Act.

A cumulative net loss trigger and a material modified loan ratio trigger will direct all available funds to the note principal payment if they are breached.

The Trump administration's fiscal 2026 budget carries over 7(a)'s $35 billion funding authority for a fourth consecutive year, even though lending has grown significantly

All the notes benefit from credit enhancement equaling 4.75% of the note balance, an initial reserve account representing 0.50% of the pool balance.

The past two Federal Reserve vice chairs for supervision failed to implement the final installment of the Basel III capital framework. Newly installed Vice Chair for Supervision Michelle Bowman is taking a new approach to the thorny question of bank capital.

ExteNet's capital structure maintains cash flow by including cash trapping and cash sweeping conditions.

The government measure of inflation for May ticked up modestly, adding to the signals that the Federal Reserve is unlikely to move on interest rates when it meets next month.