Norton Rose has hired former Clifford Chance partner Kate Alliott to its capital markets practice.
Alliott will join the firm early next month. She focuses on debt capital markets and structured finance .
Alliott is the third new hire for Norton Rose’s London practice in recent months. She joins new dispute resolution partner Donald Warnock, previously of Eversheds, and corporate finance partner Ian Lopez, who joined from Allen & Overy.
The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.
If principal and interest DSCR falls below 1.75x, then 50% of all excess cash flows will be deposited into the deal's cash trap reserve account.
The Mortgage Bankers Association's Mortgage Credit Availability Index declined 0.4% to 107.9 in April after reaching a three-year high in March.
The underlying asset pool is heavily concentrated in narrowbody aircraft models, mostly A320-200s, with large, in-service fleets and broad operator bases.
Despite the quality of the pool's underlying loans, the pool has a large proportion of investment properties, 76.7%, which are susceptible to higher default probabilities.
Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases.
