ABS

CCG transaction’s managed portfolio and securitizations have had low net losses due to strong recovery performance, although default performance has historically been volatile.

Concerns that central-bank rate hikes may induce a recession are keeping investors guessing about the outlook for the economy as rising food and energy costs squeeze consumers, and volatility has picked up.

At stake are 10 properties in CMBS loans representing about $382.2 million in allocated property balances with leases will expire before yearend 2023.

Primary markets is the locale for just under half of the collateral pool, 49.3%, which is below the average of 53.4% observed in the comparison set.

Reinforcing speculation that central banks are set to tighten policy during the summer, oil advanced to a two-month high while European inflation data for May exceeded economists’ forecasts.

The class A-1 notes from the Series 2019-1 deal, currently undrawn, will be replaced with the $15 million class A-1 notes from the upcoming transaction.

The exchange market features some kind of assets such as enterprise asset-backed securities which aren’t traded on the interbank market.

Smart Option loans lack a government guarantee, but typically are extended to borrowers with higher credit quality and a higher percentage of co-signers.

The success of the seasoned loan pool depends on the servicer’s expertise in handling prescriptive HUD deadlines and procedures for filing claims.

Critics say that the central bank is moving in the right direction, but a 50 basis point interest rate hike was too restrained and a 75 bps move would have made better sense.

War in Ukraine, rampant inflation and now a brewing global food crisis. If attendees at this year’s World Economic Forum came to Davos worried, they left with little to comfort them.

Delinquencies could trend downward, similar to the rise in early stage delinquencies in 2020, but observers say high inflation could add pressure to in-school repayments.

Although the mortgage collateral was short on full documentation underwriting, the borrowers in the pool have high incomes and plenty of liquid reserves.

MEFA expects to originate some $271.5 million of new loans during the origination period and can use excess revenues to originate additional loans during the recycling period.

Wilmington Trust’s CLO and loan administration division is an extension of the company’s loan agency and structured finance businesses.

Yields have jumped so much this year, roughly doubling those on 10-year Treasuries, that it recalls past buying opportunities that paid off when the tide turned.

Borrowers in the pool are well off, with median annual income of $315,283, non-zero weighted average (WA) asset reserves of $406,325 and high residual income.

Stocks advanced after President Joe Biden signaled he’d reconsider China tariffs imposed by the Trump administration. The dollar and Treasuries retreated.

Supported by 2,785 loans to prime borrowers, the pending transaction is the fifth term securitization from BHG 2022-B, sponsored by Bankers Healthcare Group.

Yet prophecies of imminent stagflation are drowning out a countervailing consensus among savvy economists, who see the US growing through 2024 as inflation subsides to a third of its current 8.3% rate.