Structured finance attorney Laurence Pettit has moved as a partner to Kramer Levin Naftalis & Frankel from Baker & McKenzie. In the ABS realm, Pettit has worked on private student loans, life settlements, structured settlements, diversified payment rights, consumer loans and trade receivables. His c.v. extends beyond the U.S., including deals backed by assets from Russia, Turkey, the UK, and Japan. Also hopping from Baker & McKenzie to Kramer Levin are Pettit’s colleagues Gilbert C. Liu and Richard D. Rudder, both of whom work in the structured finance space as well. The three will continue practicing in the same areas, with some nuances, such as a potentially greater focus on the commercial real-estate area, given Kramer Levin’s strengths.
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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%.
April 24 -
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