Finance

CCG has total initial hard credit enhancement of 17.0%, 12.5% and 7.0% on the classes A, B and C notes, respectively, and annual excess spread is about 4.68%.

The U.S. 30-year yield rose to the highest level since November, joining the rest of the Treasury market in offering a return of at least 4% after labor-market data.

The government-sponsored enterprises will likely have their mainstay bonds exempted from the potential securitization-related rule, but their credit-risk transfers could be subject to it, some experts say.

SEMT 2023-2 shifted some of its underwriting from traditional full documentation to agency underwriting, with the latter accounting for 14.1% of the pool balance.

As of December 2022, improvements contributed about $15.4 million in incremental rental income, plus more than $310 million of additional sales volume.

Some 69.1% of the underlying mortgages are closed-end second (CES), fixed-rate residential mortgage loans, while 30.9% are HELOC, adjustable-rate loans.

Chris Martin knew he needed a bigger car as the birth of his fourth child approached, but he and his wife were already $14,000 underwater on their two vehicles.

Banks reported record growth in net interest margins in 2022, but net income still fell, and the industry "continues to face significant downside risks" from inflation and other factors, Martin Gruenberg says.

The notes will be issued from a multi-tier debt service coverage ratio (DSCR) and a payment-in-kind (PIK) feature for class E-1, class E-2 and class F notes.

Chief Justice John Roberts told a Biden administration lawyer the program will have enormous financial implications for millions of Americans.

American Car Center told employees the business was closing its doors, a day after it pulled a $222 million bond sale from the market, according to people familiar with the matter.

The unguaranteed loans are secured by one or more first-lien commercial real estate loans. The notes have a break-even default rate cushion of 2.39%.

Direct lenders offer almost guaranteed funding at a time when borrowing in the $1.6 trillion U.S. ABS markets is increasingly unpredictable, and banks nurse losses.

AFG ABS will repay the notes on a sequential-pro rata basis, and classes A-1 and A-2 will repay note interest on a pro rata basis.

Lee invested more than $15 billion in hundreds of transactions as of 2020. That included his best-known transaction, the 1992 purchase of Snapple Beverage Corp.

In the US, some loans include blacklists, which name specific funds that aren't allowed to buy the debt. Those restrictions have come into focus recently.

The security driving the revenue to the bonds is a tariff on customers' monthly bills, in line with the "U.S. Utility Tariff/Stranded Cost Bonds Rating Criteria."

CRVNA 2023-1's collateral pool has a non-zero FICO score of 705, interest rate of 11.83%, original term of 72 months and remaining term of 70 months.

Among DataBank 2023-1's enhancement features is a turbo principal amortization mechanism that kicks in after the notes' anticipated repayment date.

Traders in the hyper-liquid world of ETFs ditched equities and corporate bonds and headed for the safety of government debt as yields broke out anew.