Consumer credit is deteriorating, but structured credit is well suited to weather the slide.
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The notes can withstand breakeven default levels of 73.38%, 57.8%, 40.71% and 34.17%, respectively. Those levels surpass the loss multiples of its expected 20.7% in cumulative gross defaults.
7h ago -
A strong economy drove mortgage rates higher in the past week but it's still an advantageous market for consumers in some ways, according to Freddie Mac.
8h ago -
The lender claims the offering is the only one of its kind in today's mortgage market.
10h ago -
The senior tranche will sell a mix of floating and fixed-rate notes, benefiting 22.5% in credit support. The class B notes are covered to a level of 15.0% and the tranche sells all fixed-rate notes.
October 16 -
The Consumer Financial Protection Bureau's nonbank registry to address repeat corporate offenders goes live this week, but some experts have raised concerns about redundancy and costs for nonbanks.
October 16
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Further, the assets have a loan-to-value ratio of about 52%, with a cashflow that can withstand large haircuts.
October 15 -
The fund will include asset-based loans such as CLOs.
October 15 -
The Consumer Financial Protection Bureau's Director Rohit Chopra was stymied for months by a Supreme Court case that put many enforcement actions on hold, but the bureau is making up for lost time.
October 15 -
The note balance can be upsized to $1.2 billion in auto ABS, according to Moody's Ratings, and the pool size can be increased to 26,514 contracts.
October 11 -
The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.
October 11 -
The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.
October 11 -
The Fed's short-term rate cut hasn't lowered 30-year mortgage rates, which have been flat, but some buyers had reasons to act sooner rather than later.
October 10