UCM Partners has launched the UCM MIDAS Fund, with $10 million in assets under management.
The fund is a private, co-mingled fixed income fund intended to maximize total return while limiting risk to capitalize on relative value opportunities in the RMBS, CMBS, and ABS sectors, according to a UCM press release. The fund’s target return is currently 25% -35%.
UCM’s Chief Investment Office Jay Menozzi is the manager of the fund.
Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
S&P sets an estimated cumulative net loss of 2.85% for the CRVNA 2026-P2 notes, unchanged from the CRVNA 2026-P1, because the collateral characteristics were unchanged.
On an end-to-end basis, the joint initiative delivers collateral without relying heavily on manual transfers as loans are settled, then transferred between institutions.
Notes will amortize sequentially to allow cash to be released to the issuing entity on a limited basis if it maintains the overcollateralization target.
Consumer Credit Portfolio II is not a securitization, but Groundfloor is known for two deferred-pay residential transition loan ABS that are paying investors higher premiums than rated RTLs.
The announcement comes following an Institutional Shareholder Services report which urges shareholders to vote no on the CrossCountry Mortgage transaction.
