The government-sponsored enterprises divested themselves of the largest share of these loans since they first began selling them in 2014, a Federal Housing Finance Agency report found.

AESOP 2022-3 will be able to add more Tesla EVs to its fleet over time, but uncertainty about the vehicles’ resale value was a potential credit negative.

Agricultural equipment accounts for more than half of the collateral pool, but accounts for the lowest concentration on the platform to date.

The 18.5% increase in Fannie Mae's and Freddie Mac's purchase authority was the driver of a 41% decrease in higher balance originations between December and January.

The collateral backing the notes are fixed-rate timeshare loans originated by Wyndham Vacation Resorts and Wyndham Resort Development Corp.

The collateral pool consists of new and used vehicles manufactured by Hyundai Motor and Kia Corp., 9% of which are electric and hybrid vehicles.

The former lender’s abrupt closure Wednesday and First Guaranty’s recent bankruptcy filing highlight difficulties in the current mortgage environment despite nonbanks being on stronger financial footing than their counterparts of 14 and 24 years ago.

The transaction will be backed by commercial leases and loans primarily supported by Dell Technologies and Dell EMC branded equipment.

The securitization has a reserve account of 1% of the initial series note balance funded fully at closing.

The transaction sponsored by Hospitality Investors Trust has a strong credit profile because of the diverse properties, well-known hotel brands and strong management involved, analysts say.

The Class A note coupon initially will be linked to the USD Compounded Secured Overnight Financing Rate Index, a relatively new interest rate index. Royal Bank of Canada is the seller, servicer and administrative agent.

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.