Securitization

Low pool concentrations of loans on properties located in Ida's path, plus robust property insurance are expected to rein in impacts and insulate noteholders.

A majority of the deal was underwritten to a less-than-full documentation standard, but meets ATR standards. Almost half of the loans are on California homes.

The deal appears to take advantage of a shift in federal rules reducing the level of non-owner-occupied loans Fannie Mae and Freddie Mac can purchase.

The proceeds from the trust’s certificates will refinance some CMBS debt, among other balance sheet uses.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

Officials have pledged to maintain bond buying until the economy shows "substantial further progress" on inflation and employment as it recovers from COVID-19.

The proposed acquisition comes just days after Better.com announced plans to buy London-based online loan broker Trussle Lab.

Consumer price spikes, which in June surged the most since 2008, will likely be a temporary feature of an economy that’s quickly recovering from the pandemic, said Federal Reserve Bank of San Francisco President Mary Daly.

Single-family rental houses and townhomes underpin the securitization, with a feature to transfer or obtain a release of any property that meets conditions.

Officials responded to a more elevated outlook for prices by penciling in two interest-rate hikes for 2023, according to the median of their projections, while seven of 18 wanted to raise interest rates next year.