Nelson Soares, a longtime managing director at Lehman Brothers, who led its U.S. securitization group, left the company earlier this week, say market sources. Soares was also active with the American Securitization Forum and was elected treasurer in a term that expires in 2010. In conjunction with his departure from Lehman, Soares resigned from his position as ASF treasurer.
Several features, including a couple of cash trapping mechanisms and a rapid amortization feature, help maintain cashflow to the notes.
The deal priced at 335 over, beating expectations for the transaction to price at 350 over, due to bond market volatility.
Bill Pulte and the government-sponsored enterprise's chief executive will be working with a firm that analyzes big data and utilizes artificial intelligence.
The transaction is the fourth of its type the company has done this year through the partnership it has had with Crosscountry Mortgage since late 2022.
Citadel Credit Union is joining the small cadre of credit unions active in the Small Business Administration's biggest loan program as it seeks to expand in its small-business-rich footprint.
Stream Innovation 2025-1 also has a two-month prefunding feature, and during that time the $199.6 million in receivables is slated to expand to $249.6 million.
