ABS

Appraisals of troubled malls that were bundled into CMBS show property valuations going lower and lower. Capitalization rates are getting higher and higher.

FFELP, Stafford consolidation loans comprise the bulk of the collateral in the transaction.

Chapter 7 and Chapter 13 make up about 48% and 31% of the borrowers in the pool, respectively, while non-bankruptcy borrowers make up 21% of the pool.

Offsetting the weak job-creation number were an upward revision to August payrolls, a bigger-than-expected drop in unemployment and a faster pace of wage growth.

The entire pool is comprised of fixed-rate, fully amortizing mortgages, with an average balance of $901,373. They are also first-lien loans.

One issuer says inclusion of enhanced reporting is the first step toward putting the entire RMBS platform on the blockchain.

While a host of factors are at play behind the bond-stock relationship, one thing that links them together is the perception of growth.

The loans are related to just one timeshare site in Las Vegas, Nevada, called the Tower 52 Vacation Suites. The loans were originated under an agreement with Hilton Resorts.

Investors in need of an alternative to certain T-bills are flocking to the Federal Reserve’s facility for reverse repurchase agreements. That’s adding to demand created by T-bill supply cuts.

About 87% of the loans in the pool were underwritten to borrowers with less than full documentation and out of that group, about 63.9% were underwritten to a 12- to 24-month bank statement to verify income.