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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Loan modifications and expenses have reduced available interest and net weighted average coupon (WAC) rates in the deal.
February 21 -
Unlike most aircraft securitizations, Gilead 2025-1 uses a mortgage amortization style, de-levering at a lower rate compared to a more typical straight-line payment style.
February 20 -
Any loan that is more than 120 days delinquent becomes a stop-advance loan, a designation that prevents interest leakage to bondholders.
February 20 -
Investor properties or second homes account for 38.1% of the pool. Also, 27.9% of the loans are a debt service coverage ratio (DCSR) loan product.
February 19 -
While SoFi uses a third-party servicer for both of those product types, it services its entire consumer loan portfolio.
February 19 -
To keep note repayment on track, credit enhancement comes from subordination, and senior notes benefit from a principal lockout period on the subordinate classes.
February 18 -
Aside from the assets' credit quality, the bank's 60 years of experience originating and servicing auto loans is a boost to the notes' credit.
February 11 -
Borrowers in GCAR 2025-1's underlying collateral pool have a slightly lower FICO score than the GCAR 2024-4 deal, and they bought more new cars.
February 10 -
Among the deal's main credit strengths is that the real estate assets are protected by robust physical security, and 83.5% of the tenants have investment-grade credit ratings.
February 10 -
The deal will sell two series of notes from a new master trust, secured by revenues from three data centers in Phoenix and Toronto.
February 7
