This week the firm highlights the relationship between BBB CMBS spreads and unsecured REIT spreads. First, analysts recommend a "buy BBB CMBS/sell REIT debt" trade, which offers more spread pickup than at any point in the past three and a half years. Additionally, as it has argued for some time, the BBB/REIT relationship has been an important confirming signal for the down-in-quality trade in CMBS. JPMorgan has been recommending down-in-quality trades in CMBS since early December.
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Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
1h ago -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
2h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
4h ago -
The bank is a top auto lender, with a managed portfolio of $7.1 million through December 2023, and has a strong servicing track record.
7h ago -
The initial protection amount, Moody's says, is 12.5% of the total reference pool and equals the principal amount of the rated and unrated issued notes.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16