Finance

Almost half of the loans, 49.6% did not have an associated FICO score, and the pool had a non-zero weighted average (WA) FICO score of 704.

While the deal has a lot of positive characteristics, Moody's noted that the managed portfolio and 2022 and 2023 origination vintages are showing some deteriorating performance.

Two weeks after Ted Pick rose to CEO, the company slightly revised its long-term targets for efficiency, return on tangible common equity and other metrics. Yet, Pick says, "there's not a change in strategy" after the departure of his predecessor, James Gorman.

Interest rate-related developments have reportedly created an environment where more mortgage firms are interested in selling and investors are eager to buy.

BLAST 2024-1 collateral pool exhibits a few key differences from BLAST 2023-1, such as a higher WA interest rate, at 23.4%, compared with 22.5%.

The A1 and a2 notes receive interest on a pro rata basis, while, the A1 notes receive ultimate principal before the A2 notes, unless certain conditions are met.

Stronger demand for auctions and the recent popularity of the 20-year could already be compelling the department to consider increasing the size the bank's strategists say.

After a record-breaking year of reeling in business from failed banks and scared customers defecting from rivals, the largest U.S. bank expects it will keep getting larger.

The coupons on the class A notes steps up after four years by 100 basis points, but the coupons are subject to a net weighted average coupon (WAC) cap.

Global financial market euphoria over the last two months of 2023 is overdone, according to members of the International Association of Credit Portfolio Managers, who expect inflation, rates to stay elevated.