Partly for this reason, Kroll expects losses on the transaction, PMIT 2018-2, to reach just 12.4% over the life of the deal, down from 13.4% for the previous transaction.
The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.
CCG Receivables Trust 2018-2 is backed by $257.7 million of loans and leases, 9.9% of them on machine tools, up from 4.93% in the sponsor’s previous deal,
Nearly half the loans were derived outside J.P. Morgan's retail channel, a level not seen in its conforming and prime jumbo securitizations since 2017.
Execs at both closed-end funds say expectations for an eventual rise in defaults are driving their strategy to extend reinvestment periods on CLOs in their portfolios.
TPG Capital is including its newly acquired first-lien interest in a Microsoft-leased office campus in Redmond, Wash., in a portfolio of suburban office properties it is financing through a new two-year commercial loan.
