The Morgan Mortgage Trust platform has had a SOFR tranche on every previous 2021 deal, generally pricing with a spread of about 95 basis points over SOFR.

Several Milbank associates made a trail for Dechert, as Hood and Muller’s additions followed the recent onboarding of partner Jon Burke, also formerly of Milbank.

Recent existing home sales have been stronger than expected, but next year could see a market held back by the inventory shortage and higher rates.

Deerpath’s average portfolio turnover rate of 37.8% over the past 12 months was higher than the 25.3% of all CLO 2.0 transactions.

Just three months ago, U.S. banks were still using the expiring benchmark rate for the vast majority of their new loans. But regulators said Friday the transition to alternative rates has accelerated ahead of a year-end cutoff.

The average delinquency rate on single-borrower transactions decreased to 5.3% in September from 5.5% in August – despite increasing four times in the past 17 months.

The Alabama bank is buying Clearsight Advisors to add to its booming capital markets division.

Increased subordination and initial hard credit enhancement throughout the tranches, plus a slightly higher borrower profile help bolster the credit on the notes.

Under the Federal Housing Finance Agency rule, the GSEs would need to lay out how levels will change under a variety of stress tests, including required ratios separately proposed for amendment.

Classic rock, country and pop make up the top 25 songs from the 52 sub-catalogs that will secure the $303 million in asset-backed securities.

The central bank’s new tone has many in the industry planning for potential volatility in 2022.

However, the unusual profitability residential finance firms have previously enjoyed, and a strong housing market, could help to sustain their bottom lines.