Recommends increasing exposure to higher yielding ABS sectors, including dealer conduit HEL ABS, manufactured housing ABS, distressed or semi-distressed credit card and auto ABS, and aircraft lease ABS. By extension to all of the above, also suggests Structured Finance (or SF) CDOs backed by many of these asset classes. Believes opportunity is emerging and probably will continue to emerge over the next 3 to 6 months (particularly as the dreaded year-end technicals kick in). It’s time to switch the mindset from defensive to aggressive in order to take advantage of opportunity when presented.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
April 26 -
Known for subprime financing, the sponsor has been making inroads lending to near-prime customers in the last couple of years.
April 26 -
Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
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 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24