Goldman Sachs is losing two of its top securitization executives -- Joe Marconi, the co-head of the ABS finance group, and Eric Bothwell, the co-head of the CDO/CLO group. Market sources said it appears that Goldman will not be handing those titles to anyone else. Their two fellow co-heads remain -- Curtis Probst for ABS and Peter Ostrem for CDOs and CLOs -- and it looks as if both will become group heads, instead of sharing the leadership role with others. However, the securitization team is reportedly growing, and Goldman is believed to be in the market for additional hires. It was unclear at presstime where Marconi and Bothwell might be headed.
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There are two series, 2024-1 and 2024-2, that have revolving periods—three for the 2024-1 and five for the 2024-2—during which noteholders will not receive any principal.
53m ago -
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.
March 27 -
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.
March 27 -
Four tranches of class A notes make up the capital structure, and they all benefit from 3.00% in total initial hard credit enhancement.
March 26