ABS

Virtually the entire portfolio, or 92.2% of the collateral pool, was underwritten using personal and business bank statements, or profit and loss statements.

Global Jet Capital will use some of the proceeds to redeem notes from BJETS 2019-1. Accelerated principal payments are among credit enhancements for BJETS.

But in pouring cold water on the prospect for a jumbo-sized 75 basis point rate hike next month, he may have inadvertently set the stage for more turbulence going forward if inflationary pressures increase.

The Federal does not plan to reinvest maturing securities, so if maturing balances are lower than those being capped, then the runoff pace might be slower.

Multiple originators outside of Angel Oak contributed to the pool, but none represented more than 16% by percentage of the pool balance.

Jitters are everywhere after equities and bonds had their worst concerted monthly selloff since the global financial crisis while the dollar surged to a 20-year high.

A strong capital structure boosts confidence in the timely payments of the notes, including provisions to mitigate negative carry.

Contracts on U.S. benchmarks were little changed and European shares struggled to hold onto earlier gains as investors shifted their attention to the monetary policy outlook.

Together, the deals OBX programs will issue about $850.5 million in prime jumbo and non-prime RMBS paper, and are expected to close on May 10.

Japanese institutional managers -- known for their legendary U.S. debt buying sprees in recent decades -- are now fueling the great bond selloff just as the Federal Reserve pares its $9 trillion balance sheet.

The trust plans to originate about $25 million in new loans during the loan acquisition and recycling periods, both of which will end on June 15, 2023.

North American portfolio managers were almost split on where 5-Y spreads would move, while no professional managers in European saw defaults decreasing.

It’s not yet time to position for a recession and investors should instead focus on adjusting asset allocation to surging inflation, according to UBS Global Wealth.

Almost the entire deal will issue notes through a senior-subordinate capital structure repaying principal sequentially, instead of on a modified sequence.

Carvana raised $3.275 billion through the sale, which priced Wednesday afternoon at par to yield 10.25% and will finance its acquisition of Adesa Inc.’s U.S. car-auction business.

With ADFITECH as a held company now, Mortgage Connect says it is well equipped to be a linear provider of credit, compliance and servicing review services.

Annual true-up adjustments—which could be made more frequently as necessary—correct for any over-collection and under-collection of the fixed recovery charges.

New Residential, the REIT, boosts credit confidence in the deal as a sponsor and originator experienced with re-performing and seasoned cleanup calls.

ESG funds that are peddling bogus engagement strategies are about to feel some heat as Morningstar Inc. moves to the next stage of its quality control of the industry.

A return by the Japanese bank, even on a smaller scale than previously, would inject fresh demand into a European market where CLO costs have spiked to the highest in two years.