Thacher Proffitt & Wood announced that Salvatore Franco and Marlo Young were named as partners in its structured finance department, Stephen Cerniglia and Peter Mignone were named as partners in the real estate practice group and Stephanie Nygard was named partner in the corporate and financial institutions practice group. All will report to Paul Tvetenstrand, Thacher Proffitt's managing partner. With these admissions, Thacher Proffitt will have 64 partners.
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%.
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
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.
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
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.
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
