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The portfolio is one of several particularly large, recent deals related to the cash-flows from mortgage payments, but it has an unusual composition.
February 17
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About 58.1% of the loans are in California, while two California cities -- Los Angeles and San Diego -- make up the pool’s largest MSA concentrations.
February 17
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The best-performing countries on human and labor rights have significantly lower bond market spreads compared to the worst, even when taking into account factors such as level of income.
February 17 -
The Fed is getting a late start as it is, say observers. Its poky pace of target rate action is setting up the markets for a rush beginning in March.
February 16
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The Silicon Valley fintech expects to make $1.5 billion in auto loans this year after implementing key elements needed to achieve scale, said CEO David Girouard. The expansion comes as the automotive market continues to boom.
February 16
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By the time the latest Vertical Bridge deal, Series 2022-1, closes, the issued notes will be the only ones outstanding from the VB-S1 program.
February 16
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The Federal Reserve in Washington remains mostly in a remote posture, and at the Office of the Comptroller of the Currency, no final decision has been made.
February 16
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SCF 2022-1’s reserve account is funded at 1.0% of the initial aggregate discount balance (ADB), which is not amortizing.
February 15
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"The quality of our new business is high. The pricing of that business does not reflect the capital requirements of our regulatory rule," CEO Hugh Frater said.
February 15
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Portfolio managers are trying to get a handle on the recent swings that have left virtually no corner of the market untouched.
February 15
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Monday’s rebound in yields also kicked in a resumption of curve flattening with the gap between 2- and 10-year yield falling almost 4 basis points to about 40.5 basis points.
February 14
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A pool of equipment lease contracts to industrial and commercial clients, will underpin the notes to be issued from the trust, VFI ABS 2022-1 deal.
February 14
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Backed by high quality loans to professionals, Navient Private Education, 2022-A, will issue the notes through a relatively short-term, sequential structure.
February 11
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Investors are making a major miscalculation by betting the Federal Reserve’s coming cycle of interest-rate hikes will end with its key rate not too far from where it is now.
February 11
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About 3.3% of loans in the deal fall into the 600-649 FICO bucket on the current Sunnova Helios VIII, 2022-A, compared with a 1.2% level in the 2021-C deal.
February 10
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However, leadership noted that 2021 was the second record year for new single-family mortgages and also discussed how the government sponsored-enterprise plans to further rebuild its capital.
February 10
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The moves underscore how fast investors have been repositioning for Federal Reserve’s rate hikes. Strategists now predict two-year yields at 1.9% for the end of 2022.
February 10 -
New vehicles account for about 21.5% of the SDART 2022-1 pool, down from 23.0% of the 2021-4 deal, amid the supply crunch for components to build new cars.
February 9
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The sponsor, owned by Blackstone Real Estate Debt Strategies and a majority-owned affiliate of BREDS IV Residential Holdco, will retain a residual interest.
February 9
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With minimal coupon protection, exceedingly long duration and super-tight credit spreads, the powder keg was fully loaded. Now we have sizzling inflation and hawkish central bankers providing us with the spark.
February 9
