The deal has an exposure to fixed-to-floating interest rate risk. While 75%-88% of the total notes are fixed rate, while just 57% of the underlying assets are.
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Subordination levels for classes A, B and C are 38.12%, 20.84%, and 0%, respectively, down from previous levels of 47.63%, 33.68% and 18.18%.
March 8
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The increase in federally backed loan activity helped drive overall volumes upward for the first time since early February, even as interest rates jumped again, according to the Mortgage Bankers Association.
March 8
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For some political strategists, rising economic populism in the Republican party could mean that more financial services firms could face more political risk.
March 8
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When the deal closes the notes will have an overcollateralization level of 5.75%, which will increase to a target of 14.75%.
March 7
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Car loans are among the bread-and-butter products for credit unions, but slowing demand and growing delinquencies are putting some pressure on the category.
March 7
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PFS Financing Corp., 2023-A's collateral pool is fairly diversified along the lines of property and casualty insurance carriers that contribute loans to the pool.
March 7
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The deal has an exposure to fixed-to-floating interest rate risk. While 75%-88% of the total notes are fixed rate, while just 57% of the underlying assets are.
March 6
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Federal Deposit Insurance Corp. Chairman Martin Gruenberg said that the rise of hybrid and remote work, alongside rising interest rates, could be creating lingering risk in the maturity of some bank loans.
March 6
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Lenders navigate commercial property assessed clean energy (C-PACE) as a lower-cost source of commercial real estate finance, priming the pipeline for ABS.
March 6
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The CFPB is requesting input on adding specifications that are intended to alleviate TRID compliance concerns on construction-to-permanent single-close loans and those requiring separate construction and home loan closings.
March 6
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Stack will finance turnkey and powered shell data centers that have relatively long contract terms, with a weighted average (WA) 6.6 years remaining.
March 3
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A New York Fed study finds that the Community Reinvestment Act does nothing to extend credit to lower-income areas, but it's unclear whether regulators' current reform effort could change that.
March 3
