News and Information from Asset Securitization Report

The deal's weakening credit numbers follow timeshare trend.

The data center's highly rated tech-firm tenant remains a mystery.

The regulatory fate of TikTok, the largest tenant in New York City's One Five One tower, remains unknown.

Federal Reserve Chair Jerome Powell said during his regular press conference Wednesday that the process of determining tariff-related price increases was always going to be slow, but it has taken longer than he expected.

A FICO survey shows 33% think exaggerating income on credit applications is acceptable. Ironically, many also prioritize strong fraud prevention from banks.

The insurance-linked market's rapid growth continues as natural catastrophes grow

A tariff-induced economic slowdown could dampen consumer debt payments.

The Senate Banking Committee passed a housing package that includes funding for manufactured and other kinds of housing, but also includes an appraisal provision that mortgage bankers oppose.

FICO scores and credit enhancement slip in BHG's largest deal to date

As high interest rates make refinancing impossible for many homeowners, increasing numbers of them are turning to HELOCs and home equity loans for cash.

Mostly prime Canadian consumers bolster securitized assets.

CLO and ABS issuance continues apace as spreads remain tight

A judge ruled the Pennsylvania lender had to commit to its increased fair lending obligations for three more years, as it wouldn't harm the public interest.

The agency has a proposed repeal in place, getting ready to be made public on July 28, which would rescind another Biden-era fair housing policy.

Numbers on use and performance point to potential for nonpublic insurers to take on a greater role but also suggest there are limits to it, Fitch Ratings found.

Ratings are holding up but global economic prospects dim

Given FHFA Director Bill Pulte's history of making regulatory pronouncements via X, some theorize the release of Fannie Mae and Freddie Mac could occur in the same way.

Proceeds in part fund dividend for new private equity owner

The methodology combines existing ABS and CMBS analyses

The student loan giant fell far short of Wall Street's expectations, but its leaders say President Trump's "Big Beautiful Bill" is likely to bring it billions of dollars in new business.

The case pitted high-profile senior-tranche investors like PIMCO against junior bondholders the interpretation of contracts that predated later policy changes.

President Trump and Senate Banking Committee Chair Tim Scott, R-S.C., visited the Federal Reserve Board headquarters Thursday afternoon to inspect ongoing renovations whose cost overruns have heightened scrutiny of Fed chair Jerome Powell.

The two Southeast banks agreed to combine in a transaction valued at $8.6 billion. Synovus CEO Kevin Blair would be chief executive of the combined bank, but a slim majority of board members would come from Pinnacle.

The massively oversubscribed deal repays existing notes and extends the floater

Flagstar Bank wants to merge its holding company into the bank, which would cut $15 million in annual expenses and eliminate regulatory oversight by the Federal Reserve, leaving the OCC as its primary regulator. The bank's CEO, Joseph Otting, is a former comptroller of the currency.

Habib's placement on the Fannie Mae board comes after he criticized Federal Reserve Chairman Jerome Powell in a Linkedin post.

Fannie Mae also foresees more home sales than it did in June, but the Mortgage Bankers Association reduced its origination projections for 2025.

Under the ticker JABS, the fund will invest in high-quality, investment grade securitized assets meant to give retail investors access to high-quality and short duration assets.

The portfolio consists of first-lien, fixed-rate and interest-only balloon RTLs. They were originated with original terms of six to 24 months to maturity.

The agreement with D2 Asset Management doubles the firm's previous commitment to Unlock, as current economic trends provide momentum for the growing sector.

Complaints to the Consumer Financial Protection Bureau have skyrocketed in the first half of 2025, due in part to an increase in payment scams generated by social media that target peer-to-peer payment platforms such as Zelle, Venmo and other apps.

A "large institutional investor" will provide funding to assist Rithm in acquiring as much as $1.5 billion worth of residential transition loans.

MMP Capital has sold securitized bonds backed by equipment before, this will be the first one secured by medical aesthetic equipment contracts

A July pickup in activity is just a start, experts say. The banking industry's drive for scale and greater efficiency is expected to drive a renewed wave of consolidation, pushing the institution count lower.

Santander Drive Auto Receivables Trust, 2025-3, can be upsized to $2.1 billion, and the capital structures are the same for both pool sizes.

Housing supply is returning to pre-pandemic levels, but the rise comes as new listings fall, pointing to subdued demand, leading real estate brokerages said.

Bank earnings have been largely positive in the second quarter despite concerns that tariffs would increase inflation and stifle economic activity. Payment divisions at banks reaped the rewards, too.

Most of GSMBS 2025-PJ7's notes are interest only, and will repay investors on a senior-subordinate, shifting interest sequence.

The North Carolina-based regional bank still expects its revenue to outpace its spending this year, though if interest rates hold steady, it could "create some risk," a top executive said Friday.

While foreclosure numbers in the first six months of this year were up compared to 2024, starts eased as the spring progressed, according to Attom.

There is a liquidity reserve account that will be fully funded to its required amount when the deal closes.

New York Life and D.E. Shaw are among the companies encouraging use of large language models throughout their organizations.

For the second consecutive week mortgage rates moved higher, as the likelihood of the Federal Reserve acting diminished after the Consumer Price Index report.

More than 10,000 prime retail loan contracts on mostly used cars will secure the notes.

Lorie Logan, president of the Federal Reserve Bank of Dallas, said in a speech Wednesday that she is content to leave interest rates where they are, adding that she would want to see inflation fall to 2% before considering cuts.

The assets are loans to alternative investment funds, and Capital Street includes an 18-month revolving period when new assets can be added to the transaction.

CEO Robin Vince refused to comment on "rumors or speculation" about a potential merger between the custody banking giant and its smaller rival, Northern Trust. He also said that the bar for BNY to engage in M&A is "very high."

Calls for foreclosure prevention advice jumped upward by almost 30% from a year ago and helped fuel overall consumer distress levels to a five-year high.

States have passed new laws and hired ex-bureau staff, but some suggest the shift is more evolutionary than revolutionary.

The Mission Lane Credit Card Master Trust will raise $550 million in capital from securitized bonds, secured by a pool of Visa-branded credit card accounts that Transportation Alliance Bank and WebBank originated.

Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.

Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.

The voice and data network operator has been growing rapidly in underserved areas of the U.S.

Historically high interest rates and falling late-payment rates suggest that credit card issuers are tightening their underwriting standards amid economic uncertainty.

The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.

The Department of Housing and Urban Development reiterated it has withdrawn a number of FHA mortgagee letters related to appraisals.

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