Fixed-rate loans account for much of the pool of mortgages, a little more than half of which are financing the purchases of single-family, primary residences.

The average annual cash bonus fell 2% to $176,500 in 2023, the lowest since 2019. The drop was far less dramatic than it was in 2022, when the average bonus slumped 25%.

The structure calls for the trust to reallocate principal so that interest is paid on the AAA through AA rated notes before other principal distributions.

Some 630 residential mortgages provide the collateral for the deal, and that includes a substantial majority, 81.0%, that the rating agencies consider to be non-prime.

Banks and Congressmen alike see U.S. regulators' version of Basel III as overly stringent for the securitization market.

The coupons on the class A notes steps up after four years by 100 basis points, but the coupons are subject to a net weighted average coupon (WAC) cap.

For the most part the underlying loans have very low default rates. Almost the entire pool, 91.8%, is clean current, and appear to have performed well into the period where they were expected to experience greater losses.

Sponsors will invest additional capital to reconfigure the recently purchased Lord & Taylor lot and construct a residential mixed-use development of 550 units.

Left-leaning shareholder groups are asking JPMorgan Chase, Goldman Sachs and other large asset managers to explain a recent decline in their support for certain environmental and social policies at public companies.