ABS

Securitization would have to see more cycles before the full effect of the COVID-19 pandemic becomes apparent, but loans backing multi-borrower SFRs show more sensitivity to rent collection disruptions.

The transaction is the company’s first securitization deal, and uses cash trapping triggers and rapid amortization events for credit enhancement.

(Bloomberg) -- The steepest global bond rout of the modern era is extending as investors dump fixed-income assets on concern that aggressive central bank policy tightening will push the global economy into a recession.

Almost all of the loans, 96.9%, were underwritten on less than full documentation, and the collateral’s weighted average DTI is 37.9%.

The Fed projections showed policy makers see quarter-point hikes at each of the remaining six meetings this year, following last week’s quarter-point liftoff.

Non-QM assets overlap almost perfectly with the portion of loans, 52%, financing properties where the borrower intends to maintain as a primary residence.

Sharkey counsels CLO managers, investors and arrangers on warehouse financings, collateral fund obligations, CLO business acquisitions and portfolio sales.

Fitch Ratings puts the insured residual value of aircraft held by Russia following its invasion of Ukraine at $13 billion, though claims may be limited to $10 billion.

UPST 2022-1 is one of the smallest transactions yet from the platform, with a pool balance of $503 million at its cutoff date, compared with recent deals.

The Bloomberg Global Aggregate Index has fallen 11% from a high in January 2021. That’s the biggest decline from a peak in data stretching back to 1990.