In last week's ASR, the two-year fixed-rate tranche of WFS Auto Owner Trust 2002-3 was incorrectly compared to the two-year class of the AmeriCredit Auto Receivables Trust 2002-C, which is a floater. In the comparison it was pointed out that AmeriCredit priced 11 basis points inside of WFS - an apples-to-oranges comparison.
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As banks retreat from the residential mortgage loan market, more private credit investors are embracing non-agency, non-QM financing to provide liquidity—and reap rewards.
29m ago -
The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
April 26 -
Known for subprime financing, the sponsor has been making inroads lending to near-prime customers in the last couple of years.
April 26 -
Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24