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Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.
Despite a limited representation and warranty framework, the entire pool has experienced third-party due diligence, which reduces the risk of future violations.
Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.
The assets' legal isolation means that the NCUA exercising its powers in a way that would reduce payments to the notes is a remote possibility.
