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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That the underlying contract holders prioritize using their smartphones and other mobile devices suggests that they are likely to prioritize payments related to those products.
April 15 -
The current levels of credit enhancement are a reduction from levels of 58.0%, 48.7%, 35.9%, 22.5% and 17% on the classes A, B, C, D and E on the BLAST 2024-1 deal.
April 12 -
Most of the notes will be fixed rate, but the A1B tranche could be benchmarked to the three-month Secured Overnight Financing Rate (SOFR).
April 11 -
Griffin was a managing director at J.P.Morgan Securities, where he ran the global primary collateralized loan obligation (CLO) business.
April 11 -
A pool of open-end vehicle fleet lease and loan contracts for cars, trucks and other vehicles provide the revenues to the bonds.
April 11 -
There are four risk events that could stop cash flow into SMB 2024-R1's deal—missing overcollateralization targets, a stymied principal distribution and the deals do not exercise an optional clean-up call.
April 10 -
New originations exceeded last year's tally by 30.5%, despite concerns about how rates might impact consumer financial strength. Auto ABS production revved up overall performance.
April 9 -
Aside from overcollateralization and subordination, the notes get support from a reserve account representing 0.96% of the pool and an incremental reserve account maintain 1.00%.
April 9 -
Series 2024-2 can be upsized to $1.5 billion from the base pool amount, but regardless of the increase, pricing guidance, total credit enhancements and legal final maturities are expected to remain the same.
April 8 -
At the pool level, loans have a weighted average minimum liquid reserve of $5 million, and at the loan level the minimum for liquid reserves is $1 million for sponsors without a FICO score.
April 5