John S. Hintze

The overlooked segment offers a premium over AAAs backed by significant subordination, the firm says.

The $300 million offering marks private-market-specialist StepStone's inaugural middle market CLO.

ABS overall should outperform, but risks remain in specific areas

The deferred pay structure offers investors a premium over traditional residential transition loan securitizations.

Deal finds lower pricing and adds a new class of AAA notes.

Higher charges for BB bonds would only marginally impact CLO market.

Tighter spreads are expected as floating-rate demand continues.

The deal mitigates mortgage-pool risk with CLO credit strengths

Unlike some recent RMBS deals, both exclude riskier interest-only loans and those supporting investment properties.

Legacy RMBS structured to withstand challenging mortgage market