Brigitte Posch has joined the emerging markets team at Ambac, having left Moody's Investors Service after eight years at the agency. She assumes her new position as first vice-president on Oct. 10, according to a source close to the matter. Posch had played an instrumental role in expanding Moody's Latin American business, particularly in the burgeoning local markets of Mexico and her native Brazil. She will have a similar focus at Ambac, the source said. Posch will report to Managing Director Diana Adams.
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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.
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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 -
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