Mitsubishi UFJ Financial Group (MUFG) has a new director and head ABS trader, Ray Barretto, who joined the firm recently.
Barretto will be responsible for building out MUFG’s ABS trading platform, with a specific focus on growing esoteric business, according to a company announcement.
Previously, Barretto was vice president of ABS secondary trading at Barclays and started his career in the Global Technology Services unit at Lehman. He has almost two decades of experience in financial services.
The current pool has smaller exposures to the construction and turf sectors compared to the 2024-2 series, which have seen higher loss rates than the agriculture sector.
Loan modifications and expenses have reduced available interest and net weighted average coupon (WAC) rates in the deal.
The Department of Veterans Affairs ended a break for borrowers put at a disadvantage by a discontinuation of pandemic aid as they transitioned to a new program.
Unlike most aircraft securitizations, Gilead 2025-1 uses a mortgage amortization style, de-levering at a lower rate compared to a more typical straight-line payment style.
The potential impacts of import tariffs cloud the outlook, though, and could lead mortgage rates to surge and fall throughout the coming year.
Letitia James and 22 other attorneys general have filed an amicus brief in a Maryland case challenging the dissolution of the consumer protection agency.
