ABS

Fitch Ratings notes that Federal Family Education Loan Program ABS is more exposed to basis risk when there is little credit enhancement and excess spread.

With the Federal Reserve and global policy makers aggressively lifting rates to rein in consumer prices, many fixed-income professionals have been confronted with the wildest volatility of their careers.

Some loans in the guaranteed portfolio have adjustable-rate coupons based off of Libor, but PacWest will make the interest payments based on the SOFR index.

We're at the moment that regulators and market participants have been fearing, which is that there will be more episodes when parts of the market seized up.

Some 95.8% of loans in the statistical asset pool as of the statistical calculation date were supported by guarantees with a WA non-zero guarantor FICO of 716.

Non-qualified mortgages comprise 50.5% of the pool, and the remaining loans are considered exempt from the Ability to Repay/Qualified Mortgage rule.

On a weighted average basis, seasoning was about 10 months, and among loans with an original term of more than 72 months, the FICO score was 730, down from 744.

The transaction closed in August for an undisclosed amount and gives KBRA Analytics a business unit that was expanding in the direct lending analytics industry.

How to play the market while yields are still rising, how high rates might go before they plateau or fall, and whether bonds will witness increases across the whole curve are all key questions.

Clients of dv01 leverage the firm's loan-level data for a range of purposes, including securitization and performance analysis.