Bank of America Insights

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.

The current transaction has the largest collateral pool that the platform has issued all year, with 294 loans, and it has the highest percentage of conforming loans, at 45.1%.

The 2026-B notes have a total initial hard credit enhancement of 10.00%, compared with 9.60% from the previous deal, the 2026-A.

At 2.5 million square feet, The Franklin has a NOI of $45 million and a rating agency cap rate of 9.75%.

Almost all the super senior classes of notes PMT Loan Trust, 2026-INV8 —A1 through A27—are expected to pay coupons of 5.0%, 5.5% or 6.0%, the same coupons as the previous transaction.