Finance

The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.

While Anthelion's First Brands exposure is dwarfed by other creditors, the firm's investment speaks to how pervasive the company's debt became across Wall Street before its collapse.

PFAST 2025-1 will have to navigate a market where the underlying consumers are facing increased challenges from tariff-induced higher prices and a loosening labor market.

Moody's details several strengths in the transaction, including a robust underwriting process. The assets also have a short, weighted average (WA) original term of 52 months.

Enpal and M&G's move comes at a complex moment for securitizations backed by energy infrastructure and home efficiency equipment.

Last week, JPMorgan CEO Jamie Dimon raised the alarm over certain corners of the credit markets might see outsized losses if the economy sours.

Switch has a large national network of data center properties, with more than 700 patents and patents pending for designs and operations in the space.

Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge.

Overall, new 60-day-plus delinquencies totaled $2 billion, up from $1.69 billion in August, while maturity defaults accounted for half, or 51% ($1.05 billion) of new delinquencies.

While the firm has not yet finalized how much it plans to raise via the collateralized fund obligation or CFO, the transaction could be around $1 billion.

Karsten Giesecke and Michael Karol join Morriello to represent clients such as lenders and private equity funds in transactions including RMBS, CMBS, franchise loans and esoteric assets.

In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.

Ford Credit Floorplan pays a fixed rate to ABS investors, while the dealers' assets pay a rate pegged to the flexible prime rate, so there is the potential of eroding excess spread.

The Buffalo-based bank said Thursday that the paring of its CRE loan book, which has nearly halved in volume over the last three years, may be near its inflection point.

The head of the government-sponsored enterprises' oversight agency also asked existing investors to review risk factors as officials eye a new public offering.

Adam Piekarski, founder, leads initial senior members Kory Klebanoff and Urian Yap, partners, to commit $1.8 billion across the firm's investment strategies.

Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.

The deal involves a two-year revolving period, and during that time principal proceeds can be reinvested into newly originated collateral.

Retroactive interpretations have bedeviled mortgage servicers and the market for older loans. The industry will be watching other cases in New York closely now.

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.