FGIC has hired Alessandra D'Imperio as a senior managing director and chief credit officer, with the responsibility of managing FGIC's underwriting risk management. D'Imperio had worked at Ambac, where she headed credit risk management for the public finance groupand served on the credit committee.
ADMT 2024-NQM2 will repay senior position investors on a pro-rata basis, while the mezzanine and subordinate notes will be repaid sequentially.
That the underlying contract holders prioritize using their smartphones and other mobile devices suggests that they are likely to prioritize payments related to those products.
Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.
Chris Hentemann, whose fund manages $6.2 billion in assets, seeks out B-piece opportunities and foresees banks executing more bulk loan sales and credit-risk transfers.
The current levels of credit enhancement are a reduction from levels of 58.0%, 48.7%, 35.9%, 22.5% and 17% on the classes A, B, C, D and E on the BLAST 2024-1 deal.
