News and Information from Asset Securitization Report

The transaction's pool of 365 fixed-rate mortgages, all first lien, breaks down to mostly non-agency loans (61.4%). The rest, 38.6%, are agency eligible.

The Federal Reserve's preferred measure of inflation moved closer to the 2% target last month, but the impact of tariffs remains to be seen.

Most of the contracts in Point Securitization Trust, 1,750 (81.64%), are second-lien as of the cut-off date.

However, with the market continuing to shift more in favor of homebuyers, home prices should move lower, aiding affordability in the weeks ahead.

The Federal Reserve chair said he made no commitments on the central bank's next monetary policy adjustment, only that the decision would be made based on incoming data.

Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.

1988 Asset Management has priced and closed $2.5 billion in CLOs in the U.S., and the partnership expects to issue CLOs regularly in Europe.

Several features, including a couple of cash trapping mechanisms and a rapid amortization feature, help maintain cashflow to the notes.

The deal priced at 335 over, beating expectations for the transaction to price at 350 over, due to bond market volatility.

Bill Pulte and the government-sponsored enterprise's chief executive will be working with a firm that analyzes big data and utilizes artificial intelligence.

The transaction is the fourth of its type the company has done this year through the partnership it has had with Crosscountry Mortgage since late 2022.

Citadel Credit Union is joining the small cadre of credit unions active in the Small Business Administration's biggest loan program as it seeks to expand in its small-business-rich footprint.

Stream Innovation 2025-1 also has a two-month prefunding feature, and during that time the $199.6 million in receivables is slated to expand to $249.6 million.

This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper.

Federal Reserve Gov. Lisa Cook said in a speech Friday that the market's response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks.

Tariff uncertainty could boost lender leverage to incorporate protection against LME proliferation

The notion that the enterprises could be a source of revenue has led to a suggestion that the funds from a public offering could be reinvested in housing.

All the notes have credit enhancement totaling 28.3% of the pool balance, rating agencies said.

Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.

The deal has a prefunding period through July, when more non-prime collateral can be purchased and added to the pool.

There are 22,704 contracts in the collateral pool, which lends itself to high diversification. The top 5 obligors account for just 0.4% of the pool.

Increases in gross domestic product and home sales expectations compared with April are the drivers of Fannie Mae's latest mortgage outlook for 2025 and 2026.

In remarks at a Mortgage Bankers Association conference, the trade group's CEO also acknowledged the need for some guardrails to remain in place.

The funding round will help Button Finance, which leverages AI to underwrite home equity financing, expand its range of products to more borrowers.

BAAT Auto Trust series 2025-1, has a super-prime underlying borrower base, as FICO scores exceeding 800 made up 55.2% of the pool.

When it closed in February 2024, Toorak 2024-RRTL1 became the first rated RTL completed. Managers increased the capital raise to $240 million, from the initial $192 million.

The nation's largest bank is optimistic about its overall performance this year, but CEO Jamie Dimon still thinks there's a bigger chance of stagflation than markets are anticipating.

The Consumer Financial Protection Bureau has withdrawn guidance that allowed states to bring enforcement actions broadly under federal consumer protection laws.

COO Joseph Gormley weighed in on cuts at the securitization guarantor and efforts to improve the industry's efficiencies and the government's.

Zayo's second securitization overall has several cash-trap and sweep triggers, including a 50% cash trap period that keep cash flowing to the notes.

Firing 90% of the Consumer Financial Protection Bureau's staff and stripping it down to "the statutory studs" is lawful, an attorney for the CFPB told an appeals court.

The WA original term is about 68 months for all three pools. That is shorter than the term on the previous series, but within the range of terms on recent deals.

SunStrong Issuer also includes a sequential amortization trigger. Should the cumulative default level exceed the applicable trigger level.

A growing supply of unsold inventory applied downward pressure on prices, offering home buyers some relief, the Mortgage Bankers Association said.

Federal Reserve Gov. Michael Barr said tariffs could have an outsize impact on small businesses and hardships could outlive the trade policy debate.

Tariff impact on distressed companies could fuel LME increase

SLAM has debt service coverage ratio (DSCR) triggers and a utilization test in the structure to help maintain cashflow and support credit in the notes.

The closely watched case centers on bank allegations the government corporation promised certain reverse-mortgage assets in return for funding then reneged.

A range of investment residential properties, including single-family homes, condominiums and multi-unit properties, will secure the debt.

The average 30-year fixed-rate mortgage rose slightly to 6.86% last week, as economic volatility calmed following the Federal Reserve's recent inaction.

The Consumer Financial Protection Bureau has dismissed or withdrawn from more than 20 lawsuits as the Trump administration reverses the work done during the Biden era.

Guardian's contribution includes up to $400 million of seed capital that Janus Henderson will invest in securitized credit and active fixed-income product innovation.

The deal can be upsized to $2 billion, and the transaction will repay principal sequentially, growing non-declining enhancement as the notes amortize.

Price growth continued to trend toward the Federal Reserve's 2% target, but not enough to spur action from the central bank.

The dental and medical spa industries accounted for 60.1% and 26.0% of the deal's balance.

Industry diversification and strong borrower financials bode well for CLO prospects in uncertain times.

Federal Reserve Gov. Adriana Kugler said in a speech in Dublin that trade barriers could soon affect prices and slow down growth while increasing uncertainty in 2025.

The Consumer Financial Protection Bureau issued a policy directive rescinding scores of standing guidance documents, interpretive rules and advisory opinions in a bid to reduce compliance costs.

Residential, business and carrier customers represented 37.2%, 32.8% and 30.0%, respectively, of revenue from the last 12 months.

The Trump administration says it will nominate Jonathan McKernan to serve as Treasury undersecretary for domestic finance. McKernan has already been nominated as the next director of the Consumer Financial Protection Bureau.

Federal Reserve Gov. Michael Barr said global supply chain disruptions and inflation caused by tariffs could weigh heaviest on small businesses, especially those with little access to credit.

Oxford requires that 91% of the supporting loans have interest payments on a floating rate index or a floating rate option, but new loans face requirements to mitigate the risks of yield shortfalls.

Agora started out by providing independent and franchise dealerships with an online platform to manage their retail installment sale contracts (RISCs).

While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."

Federal Reserve Chair Jerome Powell declined to say whether he would depart the central bank after his chairmanship ends next year, as is typical with Fed chairs who are not reappointed. He also pushed back on criticism from one potential replacement.

The comment period for the Affirmatively Furthering Fair Housing interim final rule has been extended, but consumer advocates are clear in their opposition.

Treasury Secretary Scott Bessent said he expects negotiations with trading partners over tariffs to conclude by the end of the year but acknowledged that talks with China had not yet begun.

The transaction's senior, interest-only tranches, which are also initially exchangeable, pay a coupon of 0.50%.

A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.

The transaction will issue about 10 classes of notes, composed of one term bond and nine serial bonds.

The company took a break from securitization during the first quarter but was able to get a deal done shortly after the fiscal period ended.

Indexed to the one-month, I-Curve, yields are expected to range from 4.60% on the A1+ rated, A1 notes to 6.22% on the BBB-rated, class D notes.

President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.

The administration is pitching a $26.7 billion reduction to the regulator's funding for rental assistance, public housing and elderly and disability housing.

The rating agency said 82 of the 114 loans, representing 76.4% of the portfolio's value, have final balloon payments.

Southern Auto Finance uses a heavily automated origination process that puts applicants through several rounds of vetting, including income and employment verification.

Pricing on the 30-year fixed rate mortgage retreated this week as investors digested some economic news, including a GDP contraction in the first quarter.

A new survey conducted by IntraFi found that nearly three-quarters of bank executives say a recession is here or imminent, and tariffs now rank among their top three economic concerns.