In last week's ASR it was incorrectly reported that AmeriCredit Corp. had its corporate credit downgraded by Fitch Ratings following the readjustment of its delinquency triggers with surety FSA. Fitch placed the BB' ratings on watch for a downgrade on Sept. 17, and following the completion of a $502 million equity offering Fitch affirmed the BB' ratings and removed ACF from watch Sept 27.
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.
