Across both deals, the class A notes have total initial hard credit enhancements of 19.25% of the pool balance. Class B notes benefit from 13.00% in total hard credit enhancement, and class C notes benefit from 9.25%.
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The bank has brought in mortgage industry veteran Ken Logan as senior managing director to oversee a broader range of financing it's offering to home lenders.
September 9
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On a cumulative basis, Moody's expects the asset pool to have a net loss of 1.25%, down from 1.50% in the prior deal.
September 9
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The notes benefit from total initial hard credit enhancement that represents 8.0% of the pool balance on the class A notes. Classes B, C, D and N benefit from credit enhancement levels representing 5.40%, 2.20%, 0.50% and 0.25%, respectively.
September 6
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Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead.
September 6
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The Minneapolis-based banking giant is enjoying its biggest year ever for 7(a) lending, with volume up 40%, as borrowers "are still coming to us," its SBA chief said.
September 6
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As corporate treasurers use the debt reorganization technique to head off disruptive defaults and bankruptcies, lenders seek more blockers and cooperation agreements to mitigate risks.
September 6
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Prophecies about a wave of bank failures caused by sickly CRE loans haven't yet come true. But there are still plenty of caution signs in a saga that will take years to play out.
September 6
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Affirm Asset Securitization benefits from overcollateralization in several forms. Target overcollateralization during the revolving period will equal 2.65% of the initial adjusted pool balance.
September 5
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The pool consists of 16,272 contracts, with an average contract balance of $93,502. On a weighted average (WA) basis, the contracts have an original term of 55.7 months.
September 4
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Patrick Harker, the longest serving regional reserve bank president, will leave office in June 2025. Directors at the Fed bank have started the search for his replacement.
September 4
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REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.
September 4
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Mellecker, a former Goldman MD, will focus on a range of securitizations, structured private credit deals and private placements in its structured finance and structured private credit practice.
September 4
