Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller's strike, economists said.
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The notes benefit from subordination, overcollateralization, a reserve account and excess spread. Nelnet Servicing is also on the deal as a backup servicer.
November 27 -
Classes B, C, D and E benefit from credit enhancement levels amounting to 41.35%, 28.45%, 15.30% and 6.15%, and enhancements include a reserve account, excess spread and subordination.
November 22 -
The deal could be upsized to $1.3 billion in issuance, and benefit from several layers of credit enhancement, including a reserve fund, excess spread and overcollateralization.
November 22 -
Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller's strike, economists said.
November 22 -
While the government-sponsored enterprise cut its origination forecast for this year, the Mortgage Bankers Association's updated forecast was unchanged from its October prediction.
November 22
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Expectations are for the notes to price at 18 basis points over the three-month interpolated yield curve on the A1 notes, which get 'A1+' and 'F1+' from S&P and Fitch.
November 21 -
CyrusOne Data Centers Issuer 2023-2 adds a property in Virginia, a state that accounts for a large portion of data center locations.
November 21 -
The financial services industry has run TV ads during football games and organized lobbying visits by small-business owners in its fight against the Basel III endgame plan to raise capital requirements for larger lenders. The tactics are beginning to show signs of working.
November 20 -
In her first remarks since the release of a sweeping report on the banks, Federal Housing Finance Agency Director Sandra Thompson urges them to strengthen underwriting and communication with their members' regulators.
November 20 -
The collateral pool had an average account balance of $1,620, lower than that of credit card securitization trusts that the Big Six banks sponsor, and the ABS notes benefit a 26% subordination level.
November 20 -
Three GOP leaders of the House Financial Services Committee, including Chairman Patrick McHenry, say they'll explore possible connections between the agency's alleged "toxic" work culture and its staffing shortages that may have contributed to this year's banking crisis.
November 17 -
Also, Wells Fargo, Finance of America entered into partnerships affecting real estate tax and cybersecurity solutions.
November 17