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Expected lifetime cumulative net loss is 9.25%, while higher note coupons, only partially offset by higher collateral interest rates, cut excess spread to 5.44%.
February 17
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Self-employed borrowers account for 36.2% of the loan pool's outstanding balance, and borrowers with multiple properties represent 47.9% of the pool balance.
February 16
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The consumer loan and credit card collateral will consist entirely of assets that are seasoned, yet of shorter terms overall.
February 16
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Investors offloaded $12.6 billion of Treasuries last year, but that figure was dwarfed by a record $121.8 billion purchase of U.S. agency debt, higher-yielding securities.
February 16
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The move to shutter the lines of credit for future collateralized loan obligations — so-called warehouses — comes as BirchLane winds down and returns cash to its investors.
February 15
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Borrowers that are couples, and where the female is younger, account for 32.55% of the pool's aggregate unpaid principal balance, the plurality.
February 15
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S&P views the transaction's exposure to environmental credit factors as above average, given that the collateral pool primarily comprises vehicles with ICEs.
February 14
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The deal has a $10 million prefunding account that could purchase additional eligible receivables during a three-month period after closing.
February 14
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Similar to recent transactions, the collateral pool includes loans with an original term greater than 72 months, which Ford adjusted for in the underwriting.
February 13
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Lenders and borrowers have just a few months to negotiate how they're going to ditch the disgraced Libor benchmark in the leveraged loan market, and time is of the essence.
February 13
