Moody's Investors Service has created a new group, the Structured Credit Product Development Team, to be headed by Team Managing Director Gary Witt. The new group will focus on adding transparency and analysis to new market segments, particularly the hedge fund arena. Witt will look to add an unspecified number of new hires in the coming months to fill out the team. Assuming Witt's former responsibilities is Yvonne Fu, who was promoted to team MD in the move. Fu joined Moody's in April 1997. Monitoring of collateralized fund obligations will continue to be the responsibility of Witt's group.
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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%.
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The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
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.
April 24 -
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
April 23 -
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.
April 23 -
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
April 23