News and Information from Asset Securitization Report

The securitization is backed by a 174,000-square-foot, 30-megawatt hyperscale data center in Elk Grove Village near Chicago.

The deal is backed by recently originated, 30-year fixed-rate mortgages with an average combined loan-to-value ratio of 75.1%, according to Morningstar DBRS.

This marks the second transaction from the shelf, backed by 651 first-lien, fully amortizing fixed-rate mortgages.

All loans in the deal's portfolio were made to investors and underwritten based on property cash flow and rental income to determine borrower eligibility.

A federal judge Wednesday said the Department of Housing and Urban Development failed to justify a sharp overhaul of a long-standing fair-housing grant program.

If Fed Chair Kevin Warsh's comments lack substance on inflation in the market's opinion, it is likely to drive mortgage rates even higher, NerdWallet warned.

The rating agency said CLO diversity insulates them from sector-specific shocks, fortifying them against the current weakness in software.

Non-QM securitizations hit $78B as lenders ease guidelines to capture unserved borrower demand, even as total impairments rise for the 10th time in 13 months to 6.27%.

The transaction's pool includes roughly 2.4 million square feet of office space, or 94.6% of the total, on the first through 60th floors.

Non-prime loans comprise 72% of mortgages backing CROSS 2026-NQM10 Mortgage Trust, with most of them fixed-rate.

The Bureau of Economic Analysis reported that the personal consumption expenditures, or PCE, price index rose 3.7% from a year earlier, indicating that inflation remains above the Federal Reserve's target.

The product expansion comes at a time when not just non-agency issuance is expected to have a record year, but other lenders are getting into wholesale.

The $665 million loan is secured by close to 4,000 multifamily units across five states. California properties account for over half of the portfolio's value.

The offering is backed by 1,902 first-lien residential mortgage loans, including both fixed- and adjustable-rate mortgages across prime and non-prime borrowers.

Seven federal agencies rescinded a 2022 guidance that encouraged creditors to offer special purpose credit programs to underserved communities.

Price gains slowed to a crawl from May to June, specifically in the West, but Central and East Coast regions showed steady year-over-year gains.

With new ownership in place, securitization matches the financing needs of the firm's legacy, multi-tenant projects.

BRAVO 2026-NQM8, underwritten by JPMorgan Securities, is the eighth non-QM RMBS deal under the BRAVO shelf.

More than 80% of the mortgage pool was originated utilizing alternative or non-traditional income documentation, KBRA said.

For its first securitization PMCC 2026-1 will sell to noteholders through six tranches of notes, and credit enhancement coverage that begins at 67.91% on the AAA-rated, class A notes.

The Mortgage Bankers Association lowered its refi expectations by 5% this month, as rising mortgage rates are dampening borrowers' positions.

A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.

While breaking little new ground the ruling dampens the likelihood of more aggressive liability management exercises (LMEs)

The latest investor statements show the persistence of a trend in which one vintage has a higher rate of distress than others, Morningstar DBRS finds.

The deal structure includes a lock-out feature that will redirect the portion of the subordinate principal among other protective features like subordination.

The agency says the subprime auto lender pledged the same car loans to several lenders and bond deals at once, leaving investors owed about $945 million.

FHF Issuer Trust 2026-2's final distribution dates range from Sept. 15, 2027 on the class A1 notes through Jan. 16, 2034 on the class F notes.

The class A notes include first cash flow and last cash flow tranches, both of which benefit from 28.31% in credit enhancement.

As tech facilities push into lower income and rural housing markets, lenders navigate local growth without major impacts on home sales price trends.

The president has initiated a for-cause process to remove the Federal Reserve Board governor from office, something only one president has successfully done before. But that century-old precedent may not offer Trump much useful guidance in his quest.

On Aug. 14, over 30% of the loans sent to Fannie Mae and Freddie Mac from each company were scored using VantageScore 4.0.

The notes will be issued off of a pool of 3,525 first- and junior-lien revolving HELOCs that were recently originated. The deal will repay investors on the 25th of each month, and notes have a stated final maturity date of July 2056.

So far, annual home lending growth is on track to slow, but not stop, with some positive developments surfacing amid broader challenges.

He joins from Stifel, where he was a managing director, and is part of a shift that pushes Jim Baldo to senior managing director in fixed income sales.

There are two monster debtors out there — the AI industry and the U.S. government. Is the credit market big enough for the both of them?

Jon Oksenholt, who holds more of Freddie's shares, recently took issue with a Pershing Square assessment of the two government-sponsored enterprises.

SEMT 2026-INV4's notes are expected to pay coupons including 5.00%, 5.50% and 6.00% on the super senior tranches and one super senior, floater exchangeable tranche will pay 5.39%.

The deal's structure includes debt service coverage ratio (DSCR) triggers that will deposit excess cash is deposited in the cash trap reserve and loan-to-value tests.

The structure contains seven tranches of class A notes, including two tranches for first cash flow and last cash flow, both initially exchangeable.

The Consumer Financial Protection Bureau said it will stop publishing consumer complaint narratives, citing concern that the information is one-sided.

Used vehicles collateralize 53.01% of the underlying loans, and loans in OCCU 2026-1 have a balance of $34,185, with an annual percentage rate (APR) of 7.54%.

For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.

Jones will lead the firm's asset-backed securities (ABS) and collateralized loan obligation (CLO) capital markets efforts, while Rheault will be head of the business' syndicate business.

It's not just about AI and the bank is not walking away from its green goals, Karen Fang, the initiative's leader, told American Banker.

Suna is the second structured finance partner to join Hogan Lovells Cadwalader in the last month.

Collateral quality is still generally in line with previous CRVNA series, however, and very recent Carvana pools have shown improvement in net credit losses from previous downturns.

In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.

The consumer price index ticked up last month, bolstering arguments about broad-based inflation and raising the odds of a rate hike next month.

The deal will raise about $175 million in securitized bonds, backed by a pool of residential investors loans (42.1%) and traditional small-balance commercial (SBC) mortgages.

Aqua Finance's credit enhancements include a sequential pay structure until the class A credit enhancement period is over.

Homeowners won't trade in their cheap mortgages so lenders keep finding other ways to reach that equity. Bond buyers keep showing up.

The new record arrives after five months of annual home-price growth, which surged to its highest in more than a year, according to ICE Mortgage Technology.

Despite the variety of loans in the pool, the vast majority of assets are considered qualified mortgages, with only 10.9% considered non-QM.

The July jobs report was bad, but the context is worse: people leaving the labor force, stubborn inflation and rising bond yields.

Near-term expectations for price growth fell in the latest consumer sentiment survey from the Federal Reserve Bank of New York, but remains above the central bank's target across all time horizons.

The current deal comes to market with a shorter revolving period and a smaller collateral pool, but other traits are similar to previous deals.

The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.

The structure includes a stop-advance feature, which will prevent the servicer from providing scheduled interest and principal on loans that are 120 days or more delinquent.

The company's affiliate has been issuing non-QM deals that include a small percentage of second liens, some of which also involve alternative documentation.

The latest consumer conditions study from the American Financial Services Association paints a less-than-rosy picture of how lenders expect the second half of the year to play out.

Assets have a non-zero credit score is 631, notably lower than previous transactions. Also, a slight majority of borrowers, 53.23%, have credit scores of 660 or lower.

The current pool's major loan characteristics were higher than that those seen on the RKTL 2026-2, with 60-month loans representing a higher concentration of the current pool (77.0%) compared with 73.7% on the previous deal.

The Federal Reserve governor said inflation is too high but said she ultimately voted last week to hold interest rates steady to give recent economic trends more time to play out.

An industry sentiment index hit a new low, with 45% of investors saying the current business environment has worsened compared to a year ago.

The aircraft assets will be prefunded, otherwise, the proceeds will refinance 15 vintage aircraft.

Interest will be repaid sequentially. Scheduled principal will be paid based on the scheduled outstanding note balance for the applicable payment period and the note balances.

Lenders reported July declines of HECM endorsements and new securities issuances, but proprietary lending drove a 28% year-over-year surge in originations.

The real-estate investment trust affiliate has been focusing on making more funding available for new loans but also seeks to hold the line on credit quality.

The group is planting a flag for a new structured finance platform and real estate finance team in Miami and is expected to also strengthen Benesch's New York presence with two partners.

Notes are expected to pay coupons of 5.69% on the A1A notes and 5.89% on the A1B notes. Beyond that, the A2 and A3 notes pay coupons of 5.92% and 5.97%, respectively.

The agency delayed an offering of occupied units until September to ensure compliance with President Trump's executive order made earlier this year.

Mark Paoletta, the Consumer Financial Protection Bureau's chief legal officer, has taken over as the agency's acting director. Russell Vought's term ended Aug. 1.

The guidance removes structural, compliance and cost barriers for certain operators who were used to doubling down on cautionary measures to ensure deal execution.

In line with broader trends, the GSEs have been putting new limitations on forbearance and putting more of an emphasis on mods.

Structured as a master trust deal, AVCCT 2026-1 includes a three-year revolving period, when no principal payments will be made on the series 2026-1—unless an early amortization event happens.

Fannie Mae and Freddie Mac are under directives to make mortgage-backed securities purchases that can exert downward pressure on rates or limit increases.

The American Bankers Association, Bank Policy Institute and Securities Industry and Financial Markets Association submitted comment letters to the Securities and Exchange Commission arguing that a proposed change to Form S-3 eligibility would make it more difficult for some banks to access the capital markets.

Some market participants are taking a 'hawkish hold' FOMC reading coming out of the July meeting, even as they adapt to a quieter intermeeting chairman.

Positive changes in credit provisions contributed to a multiyear high in net income as the GSE and its rival fought to purchase lenders' single-family loans.

Federal Reserve Chair Kevin Warsh acknowledged that his limited guidance might have been a factor in rising market rates, but said whatever increased volatility can be attributed to the changes is more than offset by the benefit of a more nimble central bank.

Notes are expected to pay coupons of 4.05% on the notes rated R-1 (high) (sf) and 4.59% and 4.79% on the A1 and A2 notes, respectively.

The approvals expand BSI's ability to support Ginnie Mae-backed digital mortgage assets across securitization and servicing, the company said.

The Congressional Budget Office's latest read on loan and guarantee costs points to the risks and value of government-sponsored enterprises in conservatorship.

A mix of underwriting methods were used on the asset pool, but alternative documentation took a larger portion than the rest, accounting for 35.5%.

Heading into this week's Federal Open Market Committee meeting, the Fed's core indicators are painting a different picture of the economy than real-time measures, injecting more uncertainty into Wednesday's FOMC meeting than usual.

The RMBS deal expects to pay coupons of 4.53% on the A1A through B4 notes, virtually all the notes in the capital structure.

So far this year, the volume of closed-end second and home equity line of credit securitizations is near last year's $29 billion, Bank of America Securities said.

Given Barnard's stature, and since the new leadership structure is not yet in place, Titan Square Mile said it would remove the funds from its Academy of Funds.

Bankers largely agree that there should be reforms, but don't agree on which ones; plus, our second batch of best-performing banks.

Equipment loans and leases that Redaptive Sustainability primarily acquired from originators, will back the asset pool.

President Trump's nominee to lead the Consumer Financial Protection Bureau disclosed that he's been paid by numerous financial firms regulated by the agency he is expected to lead.

The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.

Shareholders of XAI Floating Rate & Alternative Income should not support Octagon's removal as the fund's sub-adviser, Egan-Jones said, citing limited benefits to shareholders.

The rule 144A deal's structure includes a cash collateral account represents 1.00% of the note balance across all tranches.

Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.

Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.

The transaction will repay senior fees, principal and interest on the A1 class before repaying monthly interest on all remaining outstanding classes of notes.

A Securities and Exchange Commission proposal to change reporting requirements for public companies has drawn mixed reactions, with some groups warning that reduced transparency could harm markets.

Almost one third of borrowers in the pool, 26.3%, are self-employed, with a non-zero weighted average (WA) average income of $832,522, and $666,211 in liquid reserves.

Until this quarter, car-loan delinquencies for the Detroit-based bank had been steadily dropping. But in the spring of 2026, that momentum showed signs of slowing.