Noting that, on occasion, fixed-income investors seeking to underweight MBS tend to look at callable agency debt as an alternative, Merrill Lynch agency debt and MBS strategists have created a new report that studies relative value between the most liquid MBS coupons and agency bullets. In the initial report, the analysts focused on passthroughs versus agency bullets, highlighting three different ways to track relative value between 30- and 15-year passthroughs, versus agency bullets: a) relative total returns b) option-adjusted spreads c) price-based regressions.
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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.
March 27 - Yahoo Finance Feed
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