Despite the headline challenges, Lehman Brothers is making a play in the tobacco settlement legal fee-backed arena, said to be near an inaugural transaction, pending market conditions. According to a source familiar with the developments, because of the fundamental downward ratings shift for the tobacco industry, it will be difficult for a deal to score higher than the triple-B-plus level, capped at the credit perception of the industry by the rating agencies.
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The securitization is backed by a 174,000-square-foot, 30-megawatt hyperscale data center in Elk Grove Village near Chicago.
August 28 -
The deal is backed by recently originated, 30-year fixed-rate mortgages with an average combined loan-to-value ratio of 75.1%, according to Morningstar DBRS.
August 28 -
This marks the second transaction from the shelf, backed by 651 first-lien, fully amortizing fixed-rate mortgages.
August 27 -
All loans in the deal's portfolio were made to investors and underwritten based on property cash flow and rental income to determine borrower eligibility.
August 27 -
A federal judge Wednesday said the Department of Housing and Urban Development failed to justify a sharp overhaul of a long-standing fair-housing grant program.
August 27 -
If Fed Chair Kevin Warsh's comments lack substance on inflation in the market's opinion, it is likely to drive mortgage rates even higher, NerdWallet warned.
August 27







