The overlooked segment offers a premium over AAAs backed by significant subordination, the firm says.

The $300 million offering marks private-market-specialist StepStone's inaugural middle market CLO.

Over the past two weeks, the 10-year Treasury yield, priced on market expectations, increased over 40 basis points and that is finally being seen in the Freddie Mac survey.

The deferred pay structure offers investors a premium over traditional residential transition loan securitizations.

Deal finds lower pricing and adds a new class of AAA notes.

The overlooked segment offers a premium over AAAs backed by significant subordination, the firm says.

The $300 million offering marks private-market-specialist StepStone's inaugural middle market CLO.

Over the past two weeks, the 10-year Treasury yield, priced on market expectations, increased over 40 basis points and that is finally being seen in the Freddie Mac survey.

The deal mitigates mortgage-pool risk with CLO credit strengths

Nonagency issuances are expected to increase 85% for this year over 2023, and rise another 36% in 2025, the second best since the financial crisis.

Unlike some recent RMBS deals, both exclude riskier interest-only loans and those supporting investment properties.

Legacy RMBS structured to withstand challenging mortgage market