Early pricing talk for the notes ranges from 26-28 basis points over the three-month interpolated yield curve on the A1 notes, putting it at par.
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The deal involving Southern California Bancorp and California BanCorp, expected to close in the third quarter, would form a $4.6 billion-asset lender with a footprint spanning San Diego, Greater Los Angeles and the San Francisco Bay Area.
January 30
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Over 70 loans were allegedly sent to competitors by the independent mortgage banker, a suit filed by UWM alleges.
January 30
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A potential buyer with a budget of $3,000 per month for their payments is now able to afford an approximately $453,000 home.
January 29
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The portfolio of new auto leases will support notes with an expected base case loss proxy of 1.0%.
January 29
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The transaction, secured by non-prime consumer loans, has a three-year revolving period with initial credit enhancement of 41.15% on the class A notes.
January 26
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Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.
January 26
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The stable outlook is an indication that — at least for some lenders — the much-feared cycle of cardholders defaulting on their obligations in the wake of the COVID-19 pandemic may not turn out to be so bad.
January 26
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Its first of 2024, the collateral has an average loan balance of $368,691, a combined loan-to-value ratio of about 71.7%, a WA household income of $596,633, and liquid reserves of $172,562.
January 26
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The underlying transactions pay on a pro-rata basis, but that can switch to sequential pay if performance triggers, which can be addressed, are breached.
January 25
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In many ways the pool exhibits prime characteristics that are in line with other transactions from the MSRM platform, with an original FICO score of 772, an original loan-to-value ratio of 73.9%, and an original cumulative LTV of 74.2%.
January 25
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Greater market acceptance of sophisticated models and attractive pricing prompted investors to seek more of the uncorrelated risk.
January 25
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The private student loan market is in flux after one major lender, Discover Financial Services, said it's leaving the sector. Sallie Mae is gearing up to compete for that business, much as it did when Wells Fargo pulled up stakes in 2020.
January 25
