ABS

Performances were solid across the board as retail store, late-stage and payment rates all improved, while the prime chargeoff rate reaches a historically low level.

Prospects that inflation will be held in check may weigh against the need for the Fed to speed up the process of policy tightening.

While the indicative portfolio has an average credit quality of ‘B’ or ‘B-,’ Fitch also points out that the class A-1 notes have a 43.0% credit enhancement level.

The problem, according to Wilson, is that SOFR will do a poor job hedging risks in turbulent times.

Velocity Commercial Capital, 2021-4 uses subordination and excess spread that will cover both current and cumulative realized losses.

Canada’s national pension fund struck its first partnership to build and rent out single-family homes in the U.S., joining a rush to capitalize on a housing shortage.

The pool includes a high concentration of loans originated through alternative underwriting, and on investment properties. Just 10.3% of the pool received COVID forbearance.

The crosscurrents of persistently high inflation and the pandemic’s refusal to go away have caused large daily swings in yield, indicative of poor liquidity.

The deal is secured by 17 data centers that serve 1,064 customers across the U.S. and Canada, and largely concentrated in technology.

On any semi-annual payment date, the notes will pay on a pro rata basis if a loss trigger event is in effect. If a loss trigger event exists, the notes repay sequentially.