Commercial banking

Everything from housing to mergers and acquisitions are being upended, especially after 30-year US Treasury bond yields this week punched through 5% for the first time since 2007.

Both tranches have the same legal final maturity of Oct. 20, 2033, an initial (OC) of 26.00%, and an initial reserve of 0.50%.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

The Federal Reserve released its semiannual financial stability report highlighting elevated asset values, funding issues and pockets of leverage as top concerns.

Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.

CEO Scott Thomson has said that changes to the bank's operations may include "end-to-end digitization" as well as centralization of its international unit, rather than running it on a "country by country by country" basis.

The outstanding notes have 18.6%-19.6% of credit support in place, based on stressed break-even cash flow scenarios.

The Federal Reserve vice chair for supervision says the failure of Silicon Valley Bank showed the shortcomings of the current stress testing regime.

Underwriting league tables of asset-backed securities through October 19, 2023

Issuance volume of asset-backed securities for the year through October 19, 2023

The Fed's higher for longer statements have pushed up the 10-year Treasury in recent weeks to levels last seen in 2007 and that is affecting pricing.

The deal has the smallest pool balance from the ACHV program this year, with an aggregate current principal balance of $177.8 million. The collateral pool contains 14,141 loans, with an average current loan size of $12,577.

Heeren joined Gradient AI to grow its engineering team and build world-class machine learning offerings. He brings over 30 years of leadership experience building and leading both engineering and product teams across a wide range of industries and problem domains. 

Prior to Gradient AI, Heeren was the Chief Technology Officer at Vestmark, where he was recognized as a thought-leader in the wealth management industry and is active in a wide range of industry associations and initiatives, chairing a number of industry committees. He has also served in leadership roles at a number of public and start-up companies including Vignette Corporation, Simulation Sciences Corp., Workgroup Technology Corporation, and MITRE Corporation.

Heeren holds a BS in Computer Engineering from the University of Illinois at Urbana- Champaign and a MS in Computer Engineering from Boston University. 

Lam, who oversees the firm's structured credit investment strategies, managed CLOs, separate accounts and commingled accounts. Lam succeeds Andrew Gordon, who will assume the role of executive chair of the board of managers.

Katie Mevis is the Head of North America High Growth Market at SAP, focused on delivering SAP's Intelligent Enterprise experience to its clients, and helping them achieve their vision and goals through data-driven insights and actions.

David Bholat is a non-executive director of the London Community Credit Union. He was previously head of data science (AI/ML) for Barclays U.K. and senior manager in advanced analytics at the Bank of England.