Finance

The pool consists of 16,272 contracts, with an average contract balance of $93,502. On a weighted average (WA) basis, the contracts have an original term of 55.7 months.

Mellecker, a former Goldman MD, will focus on a range of securitizations, structured private credit deals and private placements in its structured finance and structured private credit practice.

More than 91.7% of the portfolio loans were extended to dentists, general medical practitioners or veterinary surgeons—considered prime obligors.

Only loans from the Achieve Personal Loan product line are in the current collateral pool.

Observers and investors weigh in on how rate cuts may shift pricing dynamics for CLO tranches.

Home Loan bank executives said Congress would have to pass a law for the system to increase its affordable housing contribution above 10% of earnings.

Treasuries have returned 1.7% this month through Aug. 28, on pace for a fourth straight monthly gain, according to the Bloomberg US Treasury Total Return Index.

Overcollateralization, subordination of the junior notes, a non-declining cash reserve account and excess spread provide credit enhancement to the notes.

Since 2019, the portfolio has recorded five defaults—driven by bankruptcies—and each was resolved with a 100% recovery rate, Fitch said.

In the blue-chip bond market, a democratic victory would be supportive for basic industry, capital goods and utilities sectors, but a negative for telecoms, technology, banks, and autos.