ABS

DriveTime is a prolific issuer, but this is the program's second securitization of the year.

This outlook affects the availability of credit from banks that are under constraints to reduce risk and preserve capital, with U.S. regional banks being most affected.

Brookfield and partners will take approximately $46.3 million in a cashout, while the loan is interest only for the entire loan term.

New originations amounted to about $64.4 billion through March 31, a 49.7% drop from last year's production by the ASR's estimation.

FNB has an initial redemption value of $106.7 million, lower than the initial redemption value of $118.7 million in the 2021 FNA VI, yet has a higher lien count with 8,352, over 7,286.

On an issuer level, the deal has a WA capitalization rate of 6.33%, WA debt service coverage ratio (DSCR) of 1.89x, and a WA loan-to-value ratio of 52.5%.

Despite firm objections from structured finance advocates, some institutional investors welcome the additional protection, citing Wall Street's potential conflicts of interest.

Two-year Treasury yields slid a percentage point over three days in March, the most since 1982. Gone are the days when inflation was the main menace.

Only a handful of lenders have the problems that toppled Silicon Valley Bank, and when the industry starts reporting quarterly earnings next week, the numbers will probably be good, Dimon told CNN.

The class A-2b tranche can issue floating-rate notes. Should that happen, the YSOA discount rate would step down from 10.30% to 10.05% after the class A-2 notes are paid off.