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While the collateral pool consists of a mix of fixed- and adjustable-rate mortgages, CHNGE Mortgage 2023-4's notes are priced to the three-month interpolated curve.
August 24 -
After a challenging 2022, fund flows reverted to positive territory in 2023 even though higher interest rates and wider spreads have considerably reduced the supply of securitized product.
August 24 -
GCAT 2023-INV1 will issue notes from a structure of super-senior through subordinate notes, which will also feature initial exchangeable notes, and an excess servicing class.
August 23 -
The A-1, A-2 and A-3 notes will benefit from credit enhancement levels of 38.6%, 30.1% and 19.3%, respectively. The mezzanine class benefits from 13.3%.
August 22 -
The deal's higher subordination floor structure conveys protection to the senior classes from losses during the life of the deal, but also presents so-called tail risk to the subordinate classes.
August 21 -
Consumer ABS adapts to an environment where total U.S. household debt reaches a record high of $17.06 trillion, while observers say credit performances could reach pre-pandemic levels by 2024.
August 18 -
A vast majority of the pool, 92.02%, was underwritten to the properties' actual or estimated rental incomes, and not the mortgagors' incomes.
August 15 -
The case stems from a lawsuit filed by the US Department of Justice against UBS in relation to legacy residential mortgage-backed securities from 2006 and 2007 and related to the issuance, underwriting and sale of the securities.
August 15 -
The collateral pool is comprised of a mix of mortgage loans, from 30-year, fixed-rate, fully amortizing loans (94.6%) to 40-year, fixed-rate loans with an initial interest-only term (0.03%).
July 27 -
Prime Minister Justin Trudeau's government is considering winding down the Canada Mortgage Bond program in a bid to reduce borrowing costs.
July 6