Deutsche Bank Securities has hired Amin Majidi head of U.S. mortgage strategy and co-head of mortgage research for the Americas working alongside Gregg Patruno, head of mortgage modeling, and reporting to head of structured finance research Karen Weaver and head of U.S. fixed income strategy Mustafa Chowdhury. Majidi joins from ABP Investments, where he was a senior portfolio manager responsible for mortgage-backed securities with a focus on derivatives products. Prior to ABP, Majidi was a portfolio manager at Priton Capital, a unit of Bear Stearns Asset Management.
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The trust employs a 24-month revolving period. There is an increased risk that collateral quality could deteriorate as the transaction evolves with new collateral.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27 -
Aside from the cash flow stabilization, another credit positive to the deal, TAH Operations is property manager to the portfolio, and has strong processes and controls.
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Four tranches of class A notes make up the capital structure, and they all benefit from 3.00% in total initial hard credit enhancement.
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Seven of the loans, 27.7% of the pool balance, are secured by multiple properties or have a component of cross-collateralization, benefitting from greater cash flow stability.
March 26