Finance

The multifamily property securities market is expected to stay resilient, despite weaknesses in certain markets due to cooling rent growth, higher vacancy, or oversupply.

Called collateral from various series increased to 6.0%, from 4.0%, while weighted average seasoning increased to 3.15 months from 2.82 months.

Collateralized loan obligation activity should increase despite higher-for-longer rates and liability management exercises.

Stability in mortgage rates may be key to unlocking pent-up demand during the upcoming spring homebuying season, but with loans still expensive and prices continuing to rise, affordability remains a hurdle.

The deal includes a minimum assets test, requiring the issuers to own at least 10 assets at the end of the nine-month delivery period, or seven assets after the delivery period.

Like other recent pools of securitized mortgages located in the Los Angeles County area, any loans that exhibited material damage from the fires were removed from the pool before closing.

Mortgage experts were expecting the first FOMC meeting under President Trump would have more significance in the long run than short-term, with some wild cards.

The A2B notes in TAOT 2025-A will make up 75% of total class A2 notes, a much higher percentage of floating-rate A2B notes than recent deals.

The legendary investor weighed in on the "irrationality of markets" during the recent AI-fueled rally.

Deal production has been a bright spot, but delinquencies could soon reach record highs, especially for office CMBS.

Agency underwritten loans accounted for 97.1% of the CMLTI 2025-1 pool, up drastically from 10.6% on the CMLTI 2024-1 series.

In a few notable changes from the 2024-1 deal, 0.73% of the current pool is composed of closed-end leases, an increase from 0.55%.

The class A1 notes have the lowest cumulative advance rate, which combines the interest and mortgage insurance rates to show the monthly increase in the line of credit, at 95.5%.

Initial hard credit enhancement, based on a Pv6 securitization share of ADSAB is 27.8%, higher than the 18.7% on the Sunrun 2024-3 transaction.

The obligors' non-investment grade credit quality could present challenges to the timely repayment of notes. Yet PREF focused on high-revenue obligors backed by private equity sponsors.

Just 2.15% of the loans in the pool financed properties in Los Angeles County, and the surrounding areas that have been impacted by the recent wildfires.

Investors and analysts see pockets of value in asset-backed securities, as elevated fiscal policy uncertainty and wariness about the economic environment rise.

Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.

Outstanding loans eligible for repossession in December 2022 saw a 22.5% increase from December 2019, but redemptions were higher than pre-pandemic levels.

The portfolio is composed of 743 first-lien, fixed- and adjustable-rate, fully amortizing mortgages to borrowers with prime and non-prime credit. Most of the mortgages, 70.3%, are for home purchases.