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The deal has several performance triggers with cash trap reserves, senior note interest and expense reserves, and loan-to-value tests.
June 27
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A 1.16% rate of excess spread, subordination of the class B notes and a liquidity reserve provide credit enhancement to a deal financing far more PACE loans extended in Florida.
June 7
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A true-up mechanism is uncapped and will mandatorily adjust the charges at least semi-annually to ensure that the trust has adequate funds to make timely principal and interest on the bonds.
June 6
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The specialist says the key to selecting less-trafficked ABS sectors is their ability to withstand an expected recession.
May 22
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Prime homeowners as borrowers and strong recovery rates help drive confidence in the issuance, but the first-time appearance of deferred loans raises caution.
May 19
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The collateral in FortiFi 2021-1 and 2023-1 are similar, In one key difference from Fortifi 2021-1, the current deal has a supplemental reserve account, amounting to $6.2 million.
May 17
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The pool is also granular and diverse, with the top 13 insurance companies accounting for 28.3% of the pool balance.
May 17
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Since the previous deal from the master trust, the number of Hotwire Communications sites has increased from 515 to 675, and key performance metrics have improved.
May 11
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GoodLeap 2023-2 has loans with fewer 25-year terms and higher FICO scores generally. Together, they'll have lower expected loss rates than those with longer terms and lower FICO scores.
May 5
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Actual shipping vessel usage dropped to less than 70% during the COVID-19 pandemic, but its utilization rate only slipped to 98.4% during the pandemic.
May 3
