SFS' legacy company, First Investors Financial Services, securitized its first of 34 auto ABS deals in 2000, giving the SFS management team its experience in auto financing.

The sponsor sourced the mortgage collateral from a range of originators, but none of them accounts for more than 10% of the pool balance.

The reasons for BofA's success vary, but in a year when the auto ABS sector experienced a surge in issuance in the second half of the year, several banks appeared to benefit.

DEXT is very diversified by equipment type. Enterprise technology, medical technology and surgical equipment account for the top three concentrations, representing 22%, 16% and 10% of the portfolio.

The bonds are supported by overcollateralization, and new collateral was added to further diversify the pool of assets.

BAAT's four class A tranches have initial hard credit enhancement representing 3.75% of the pool balance, made up of subordination, 2.50%; a reserve account, 0.25%, and 1.00% in initial (and target) overcollateralization.

Short-end issuance is being closely watched after the Treasury Borrowing Advisory Committee on Wednesday recommended the department skew future issuance toward shorter maturities where liquidity and investor demand is stronger.

The newest deal from the program could be upsized to $1.6 billion from $1.1 billion, with the structure and pool characteristics remaining the same.

The OCCU 2023-1 transaction will come to market as a 144a transaction, with higher levels of credit enhancement from yield supplement overcollateralization, initial hard credit enhancement and excess spread.

Tractors make up the vast majority of the vehicles in the pool, 92.5%, while trailers, trucks and buses account for 4.1%, 2.3% and 1.1%, respectively.

The sale marks the firm's first operating company-level debt sale in about four years.

The deal has a 9.25% discount rate on the yield supplement overcollateralization amount (YSOA), a, liquidity risk mitigation tool, which is significantly higher than the 4.00% from the 2021-1 transaction.

CLO spreads should tighten toward year-end, easing arbitrage challenges. Meanwhile investors will be challenged to calibrate the recovery rate, says Pratik Gupta.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

High-quality fully amortizing residential mortgages collateralize deal underwritten by Bank of America.

The residential mortgage-backed securities will offer investors a chance at $300 million in notes highly rated virtually throughout the deal.

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.