Donna M. Mitchell is a financial journalist based in the New York metro area with expertise covering structured finance, commercial real estate, and wealth management. Her work has appeared in Forbes, Next Avenue, Financial Planning and National Real Estate Investor.
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The pass-through certificates are supported by a full pool of amortizing loans, which have no interest-only periods.
March 12 -
The United Auto 2025-1 series of notes has a more mixed subordination element compared with the previous deal.
March 11 -
Tax liens have so-called super priority in repayments, even placing ahead of a previously filed mortgage.
March 11 -
A set of performance-related triggers—cash trapping and expense reserve—will help maintain cash flow to the notes.
March 10 -
Full documentation accounts for a little over a third of the pool, but otherwise FICO scores are high, as are weighted average liquid reserves.
March 7 -
From the Q3 2021 to the early 2024 vintages, cumulative gross loss (CGL) levels had been trending up, likely due to consumer credit normalizing, due to inflationary pressures.
March 6 -
GM Financial Revolving Receivables Trust, 2025-1 has a five-year-long revolving period, risking exposure to assets with longer terms.
March 6 -
Fitch notes that 74.8% of the collateral pool, made up entirely of 3,103 loans, is backed by trucking—or transportation—equipment.
March 5 -
The fund closes ahead of separate news that it formed the Private Real Estate Credit platform, which will originate senior and subordinated commercial real estate loans.
March 5 -
It is the program's second issuance to come to market with a pool made up entirely of consumer loans.
March 4
