Finance

The undiscounted residual value composition is 77.54%, higher than prior GCOLT deals, such as the GCOLT 2021-1, which was 70.50%.

The Treasury's cash balance fell to just $37.4 billion on Tuesday, according to data published Wednesday. That more that reverses the previous day's bounceback.

The National Credit Union Administration, a government-backed insurer of credit unions classifies Veridian as "well capitalized," which helps mitigate some risks associated with its lack of securitization experience.

One case found that simply defining the investment in the new debt as an allowable transaction was helpful, but new indenture language to facilitate participation provides CLOs with little benefit.

About 17% of the 1,064 loans in the collateral pool had been securitized in two previous Newtek Small Business Loan Trust transactions, from 2016 and 2017, specifically.

JPMMT 2023-4, as the deal is known, has a cross-collateralization structure that divides the collateral into two groups that determine the repayment of principal and interest. This is similar to previous JPMMT transactions.

The non-qualified mortgage pool consists mostly of loans underwritten to less than full documentation, some 96%. Also 47% of the loans were underwritten to a bank statement program for verifying income.

Rising demand and aircraft shortages are pushing up lease income, which is expected to continue tightening spreads for issuers.

Cadma Capital Partners will provide asset-backed financing to venture- and growth-lenders, high-growth companies, and financial sponsors.

The deal is the second one for this year, a different tack for a program that has appeared once annually in the past.

Two issuances will fund revolving pools of leases from various vehicle companies even as a looming recession may dampen travel demand.

While the mortgages from this Community Development Financial Institution lack income verification, the borrowers' credit is actually near prime, according to DBRS Morningstar.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.

The investor segment will have to be mindful as it gains ground, executives said Tuesday, noting that the sector takes experience, skill and savvy awareness of risks.

The coming Fitch-rated deal has higher FICO scores than competitors' pools, but the auto sector faces headwinds.

HAROT 2023-2 offers notes backed by prime auto receivables, and a slightly higher concentration of credit grade-A obligors, 77.64%, up from 76.45% in HAROT 2023-1.

The specialist says the key to selecting less-trafficked ABS sectors is their ability to withstand an expected recession.

Prime homeowners as borrowers and strong recovery rates help drive confidence in the issuance, but the first-time appearance of deferred loans raises caution.

The government-sponsored enterprise only tweaked the two-year mortgage origination forecast, with a $6 billion reduction for 2023, but an increase of $7 billion for 2024.

Gorman, who transformed Morgan Stanley after it nearly collapsed during the global financial crisis, plans to assume the role of executive chairman.