The Latest

Pagaya AI Debt Trust, 2022-1, or PAID 2022-1, will be Pagaya Structure’s first publicly rated securitization.

And a recent slowdown in government-backed loan issuance is pushing average purchase amounts to another record high.

Performing and re-performing loans are in the pool, as well as fixed, adjustable-rate and step-rate loans, and fully-amortizing balloon and interest-only mortgages.

An increase in the number of completed homes over the last two months and prospects of higher interest rates this year as the Federal Reserve tightens monetary policy may have encouraged a pickup in contract signings.

What would you pay for fixed-income assets now if you knew that the biggest holders will become forced sellers later?

In a transaction that is expandable, Kapitus Asset Securitization will be able to periodically issue additional notes up to a maximum of $600 million.

Collateral characteristics are slightly weaker than previous deals, due to a higher proportion of loans underwritten to alternative income documentation.

A measure of home prices in 20 U.S. cities jumped 18.3%, down from 18.5% in October, the S&P CoreLogic Case-Shiller index showed Tuesday. It marked the fourth straight month that home-price appreciation has cooled off ever so slightly.

While the IMF sees the omicron variant weighing on growth in the first quarter, it expects the negative impact to fade starting in the second quarter, assuming that the global surge in infections abates.

Office properties account for 60.8% of the pool, above the 41.2% average for 2020 deals, and above the 36.5% average for 2021.