After closing, which is expected on February 27, coupons are expected to pay coupons of 4.83% on the notes rated AAA and 5.04% on the AAA-rated A1LCF.

GSMBS 2026-PJ2's losses are based on a senior-subordinate, shifting-interest structure and Fitch expects a 10.3% final probability of default in the AAA rating stress.

Benchmark 10-year yields closed one basis point higher at 4.06%, while the policy-sensitive two-year yield climbed three basis points to 3.43%.

The Wall Street investment bank had staunchly defended Kathy Ruemmler over her previous association with Jeffrey Epstein. 

Leverage is moderate in Saluda Grade's pool, yet the junior liens carry slightly more LTV and DTI risk, on a weighted average (WA) basis.

After four years, the senior note classes will either pay a 100 basis-point increase to the fixed coupon or the net weighted average coupon (WAC) rate, whichever is lower.

In terms of the deal's capital structure, will repay noteholders following a sequential, shifting-interest structure, and six subordinate classes support the senior notes.

Goldman's former chief credit strategist Lotfi Karoui departed last year after 18 years with the bank. He was also the head of credit, mortgages and structured products research.

Transactions from 2024 are performing better than deals issued in 2023, and deals from 2025 and 2024 are performing well with in expectations.

PMT 2025-CNF2 is not required to provide advances of schedule interest and principal on loans that are delinquent by 120 days or more.

The transaction uses a shifting interest repayment structure, and its lockout that is subject to performance triggers.

GDLP 2025-3 has a so-called vertical risk retention structure, where 95% of the collateral balance is allocated to the noteholders, while retained interest noteholders will hold the rest.

If class A notes fail a credit enhancement rest, a cumulative default ratio amortization event occurs, or the pool balance is 10% or less, then GSKY 2025-3 will move to a sequential pay structure.

Most of the pool of 1,011 residential mortgages, 69.7%, are considered non-prime mortgages, primarily due to the documentation and styles of underwriting.

FFIN 2025-3's average loan balance, $16,366 was lower compared with the 2025-2 deal, when it was $19,993, and the WA interest rate on the current deal is 12.15%, down from 12.56%.

While the firm has not yet finalized how much it plans to raise via the collateralized fund obligation or CFO, the transaction could be around $1 billion.

The deal involves a two-year revolving period, and during that time principal proceeds can be reinvested into newly originated collateral.

The five-part deal's longest portion, an 11-year fixed-to-floating rate note, yields 0.92 percentage point more than Treasuries.

Moves in Japanese government bonds have foreshadowed that of their global counterparts this year, with a spike in super-long yields in the Asian nation amplifying ructions fueled by fears of widening fiscal deficits.

College sophomores are applying for jobs before they've even taken a finance class. Goldman Sachs CEO David Solomon says he dislikes the process, but doesn't have the power to change it.