Democratic and Republican lawmakers alike pilloried former Silicon Valley Bank CEO Greg Becker over his compensation package.

The $500 million in notes from the current deal are part of a multi-issuance series consisting of classes A, B, C, and D, with a 21.00% level of credit enhancement on the class A notes.

Prime loans comprise the collateral pool, and the deal has a more diverse loan maturity profile than previous deals.

But the percentage of loans in workout no longer current increased in April, the Mortgage Bankers Association found.

SDART 2023-2 will build overcollateralization (OC) as it amortizes, initially 23.75%, which is expected to build to a target OC level of 32.50%.

Compared with several previous Verus Securitization deals dating back to Verus 2022-8, the current transaction has the highest concentration of ARMs, at 33.9%.

The former vice chair for supervision challenged his successor's report on the failure of Silicon Valley Bank, said changes that move away from transparency and consistency 'won't survive' in court.

Although issuance of new securitizations has been low compared to year-ago levels, it rebounded as spring buying began

Annualized excess spread and a cash spread account should mitigate concerns around the timing of cash flow to the trust and the collateral's assumed discount rate, says DBRS.

Low interest rates on 2021 and 2022 mortgages might mean low prepayment rates, exposing investors to duration risk on supported mortgage-backed securities.

The Federal Reserve Board governor also called for the Fed to commission an independent investigation into the failure of Silicon Valley Bank.

Delinquency rates in credit cards, auto and personal loans are effectively back to normal after three years of unusually strong credit performance. Industry executives say the current situation is easily manageable, but they do anticipate that key metrics will continue to worsen.