Economy

RG&E, series 2025-A, is the second utility cost recovery securitization this week, and is another first-time issuer.

Completed foreclosure auctions should be 8% lower this year, but if home value and unemployment expectations change, all bets are off, Auction.com said.

Residential customers made up 70.1% of NYSEG's sales revenue, while commercial and industrial customers account for the other 30% of sales. The latter is a relatively high exposure for such deals.

Debt service coverage ratio triggers, including cash trapping and rapid amortization, will provide much of the credit enhancements to the notes.

Deal production has been a bright spot, but delinquencies could soon reach record highs, especially for office CMBS.

Just 2.15% of the loans in the pool financed properties in Los Angeles County, and the surrounding areas that have been impacted by the recent wildfires.

Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.

Higher mortgage rates will persist through 2026, affecting sales and refinancings. Those expectations led Fannie Mae to cut its volume outlook for the next two years.

Obligors are slightly more concentrated but the percentage of obligors in higher credit quality grades—2 through 5—increased to 56.9%, from 41.3% from the previous deal.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.