Remains long passthroughs vs. treasuries. Favors 5.5s over every other coupon in the stack . Thirty-year 6s still offer the most hedge-adjusted carry in the sector, although the amount that 6s out carry 5.5s is marginal. Any further movements to lower yields should pressure 6s relative to 5.5s as the 6s are now back above 104-00, a level that has caused problems for this coupon in the past. GNMAs have been under steady pressure for the past several sessions and the only buyers seem to be short covering. Expects further declines in the GNMA/FNMA swaps.
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There are two series, 2024-1 and 2024-2, that have revolving periods—three for the 2024-1 and five for the 2024-2—during which noteholders will not receive any principal.
25m ago -
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