The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.
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If principal and interest DSCR falls below 1.75x, then 50% of all excess cash flows will be deposited into the deal's cash trap reserve account.
May 12
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The Mortgage Bankers Association's Mortgage Credit Availability Index declined 0.4% to 107.9 in April after reaching a three-year high in March.
May 12
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The underlying asset pool is heavily concentrated in narrowbody aircraft models, mostly A320-200s, with large, in-service fleets and broad operator bases.
May 12
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Despite the quality of the pool's underlying loans, the pool has a large proportion of investment properties, 76.7%, which are susceptible to higher default probabilities.
May 11
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Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases.
May 11
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Three senior officials say attackers will eventually breach bank defenses, and supervisors should plan for it — while U.S. regulators stay nearly silent.
May 11
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Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
May 8
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The deal features a principal acceleration trigger. If breached, the transaction will divert all additional funds to paying down the principal on the notes.
May 7
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The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.
May 7
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The transaction comes to market with initial hard credit enhancement levels of 33.60%, 22.90%, 13.50% and 8.65% across the subordinate tranches, higher than the previous deal.
May 7
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The 30-year fixed spiked earlier in the week, but fell as Middle East news helped to drive the 10-year Treasury yield lower by 9 basis points by Wednesday.
May 7
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The percentage of investors who view the market as better than it was a year ago fell to 36% from 45% in the winter, according to a spring survey.
May 6
