DBRS today announced the appointment of Claire Mezzanotte as managing director of U.S. ABS/RMBS. She will be based in New York and will report to Huston Loke, group managing director and head of global structured finance.
Mezzanotte will be responsible for all activities related to the U.S. ABS and RMBS sectors. ABS and MBS rating teams, as well as quantitative, research and surveillance functions, will be reporting into her. Mezzanotte joined DBRS in April 2007 from Fitch Ratings, where she was a managing director heading up the U.S. consumer ABS team.
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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%.
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The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
April 23