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The certificates are backed by a single loan for 10 retail centers in nine states. AMC Theatres is the portfolio's largest tenant, representing 10.4% of the portfolio's base rent.
December 27 -
PRPM 2023-NQM3 Trust has issued residential mortgage-backed securities that are supported by 516 loans, 23% of which were originated by Newfi Lending.
December 26 -
Banks began marketing the loan, which funded a 47% stake purchase in Everise in early November. But the sale for the B3 rated debt struggled and dragged on for over a month.
December 22 -
Classes A, B, C, D, E, and F have initial credit enhancement levels of 67.25%, 49.00%, 33.50%, 17.90%, 8.55% and 1.50%, respectively.
December 20 -
Bostic said he expects the US central bank will cut rates twice in 2024 — in the second half of the year — as inflation continues to slowly decline.
December 19 -
It is the first securitization for the company, and represents only a subset of the types of loans that the company has originated.
December 18 -
Initial hard credit enhancement ranges from 24.40% on class A notes to 7.70% on the class D notes. At closing, overcollateralization will be 6.70%, building to a target of 12.50%.
December 14 -
Deliveries would get an added boost should China resume importing the 737 Max after a nearly five-year halt, as air travel rebounds and trade relations thaw with the US.
December 12 -
Originators funded 72.6% of the loans in 2023, while 16.7% of the loans were funded in 2022 and originators funded the rest between 2021 and 2018.
December 7 -
ABS for 2023 is expected to drop 21.2% from 2022 volume, but the industry total for 2024, could give it a 4.1% increase.
December 7