Still sees value in AAA CMBS at current levels, especially with other asset classes trading so tight, but remains on guard for a possible flurry of bid list activity that would push the sector off these three-year tights in spreads. Alternatively, believes single-A CMBS are the richest they have been in several years, and that PAC IOs and BBB CMBS offer better value. BBB- CMBS are currently 4 bps wider than at the beginning of the year versus BBB- REIT paper which is 60 bps tighter.
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Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
11h ago -
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 -
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
April 23 -
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22 -
Price guidance was not available on the series 2024-1, the database notes that the series 2024-2 class A notes are expected to price between 63 and 65 basis points over the three-month interpolated yield curve.
April 22 -
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
April 22