ABN AMRO has purchased the Australian SPV administrative arm of LordSPV from Lord Securities, forming a new unit called ABN AMRO SPV Management. Previously named ABN AMRO Trustees, the new entity has retained Lord Australia's management team.
ABN AMRO Trustees is the international arm of US-based LaSalle Bank's Global Securitisation Trust Services (GSTS) group. LaSalle Bank is a wholly-owned subsidiary of ABN AMRO Bank NV.
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
Price guidance was not available on the series 2024-1, the database notes that the series 2024-2 class A notes are expected to price between 63 and 65 basis points over the three-month interpolated yield curve.
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
