Consumer lending

Landmark Funding Trust does not include a class E tranche, and overcollateralization has increased to 21.00% of the initial adjusted loan principal balance, from 10.35%.

The deal launched from the Achieve platform, bringing Freedom Consumer Credit Fund's cumulative issuances across its securitization portfolios to $4.8 billion.

As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.

The American Bankers Association's latest Credit Conditions Index points to a drop in lending and a rise in loan delinquencies through the second and third quarters.

But overall availability still remained near a 10-year low in March, with government-backed products falling for the third time in four months, the Mortgage Bankers Association found.

Initial hard credit enhancement for the class A notes is lower, at 37.30%, because of lower subordination in the deal.

For this securitization the 85.7% portion of standard amortizing loans does include a sliver of (SAC) loans, or 4.7%, that are past their promotional periods and 14.3%, that are within.

Car loans are among the bread-and-butter products for credit unions, but slowing demand and growing delinquencies are putting some pressure on the category.

Expected lifetime cumulative net loss is 9.25%, while higher note coupons, only partially offset by higher collateral interest rates, cut excess spread to 5.44%.

The 51 basis point increase was inevitable after the late payment rate reached a record low in the third quarter, the Mortgage Bankers Association said.