Tom Donatacci, who recently left Residential Capital Corp., has joined The Clayton Group, a loan advisory firm based in Shelton, Conn.
Clayton named Mr. Donatacci executive vice president of marketing and sales. At ResCap Donatacci was in charge of new business development and oversaw its subservicing division. Meanwhile,
Clayton named Tom Cronin managing director of government relations.
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%.
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
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.
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
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.
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
