Florham Park, N.J.-based GSC Group, an alternative asset investment manager, recruited Robert P. Seery as senior vice president in its structured finance group, to spearhead the development of funding vehicles for the company's structured finance business. Previously, Seery worked for International Asset Transactions, a privately held capital markets specialist, where he was COO since 2003. He also directed the planning and rollout of the firm's asset management strategy, which was partially funded with asset-backed commercial paper. Before joining International Asset Transactions, Seery, 52, was a vice president and controller for Commerzbank Capital Markets Corp.
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With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.
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The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17 -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
April 17