ABS

The size of the current deal stems mostly from the ‘AAA’ piece, which was $210 million, compared to $162 million in the last ABS. Earlier deals hovered around $250 million.

The bonanza from Wall Street operations is a source of relief for banks struggling to earn more from traditional lending operations, which have suffered from lukewarm demand and a prolonged period of low interest rates.

Collateralized loan obligations may have to wait until 2022, because the market is seeking price discovery -- but has little incentive to jump first.

Not even Dunkin' is immune to the labor shortage perplexing the restaurant sector, even though its business model relies heavily on drive-up locations and takeout dining.

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.

Republicans believe there’s enough time left if Democrats start Wednesday or Thursday, a GOP aide said on condition of anonymity. Republicans could keep the vote-a-ramas very limited to keep things moving along.

The GSE comes to market with a pool that is less volatile than average Freddie Mac pass-through deals, plus below-average amortization.

Most of the home loans were originated post-COVID and are on owner-occupied properties.

Auto loan delinquencies and defaults had performed well thanks to federal intervention. Analysts expect them to return to historic levels, and then stabilize.

BDS 2021-FL9 is allowed to be fully collateralized by multifamily or manufactured housing properties, although it has concentration limits on other property types.

Based in Philadelphia, Mazzeo advises a range of client types on securitizations, and guides private equity and hedge fund managers through structured transactions.