Economy

However, the benchmark 10-year Treasury yield pushed back up 15 basis points from a week ago as the markets settle following the recent bank failures.

The year-over-year drop in January stemmed primarily from loans where a payment had not been made in at least 120 days but shorter-term arrears were higher during the same period.

The economic situation is more like what happened during the mid-'80s thrift crisis than the 2008 downturn, said Chief Economist Doug Duncan.

The figures reaffirm that the Fed's quest to tame inflation will be bumpy as the economy has largely proven resilient to a year's worth of interest-rate hikes.

More than half of pandemic gains have been erased, but how the mix of stronger than expected overall employment and other developments will affect rates remains uncertain.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg said that the rise of hybrid and remote work, alongside rising interest rates, could be creating lingering risk in the maturity of some bank loans.

Lenders navigate commercial property assessed clean energy (C-PACE) as a lower-cost source of commercial real estate finance, priming the pipeline for ABS.

The CFPB is requesting input on adding specifications that are intended to alleviate TRID compliance concerns on construction-to-permanent single-close loans and those requiring separate construction and home loan closings.

AFG ABS will repay the notes on a sequential-pro rata basis, and classes A-1 and A-2 will repay note interest on a pro rata basis.

The security driving the revenue to the bonds is a tariff on customers' monthly bills, in line with the "U.S. Utility Tariff/Stranded Cost Bonds Rating Criteria."