Securitization

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.

Lenders financed the properties through first-lien, fixed-rate mortgage loans, most of which were on 30-year terms extended to prime borrowers, many self-employed.

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.

Older bank-owned loans, part of the Federal Family Education Loan Program, are repackaged into bonds that trade in the asset-backed securities market.

The offering is the latest securitization in the fertile automobile ABS market

Both used and new cars make up the collateral in COPAR 2022-1

Sunrun, which is one of its largest players in the solar panel industry, plans an asset-backed security that pools loans tied to residential solar leases and power purchase agreements.

Anticipation of the Federal Reserve’s balance-sheet reduction is weighing on bonds backed by mortgages, but the actual event may make them an attractive alternative to corporate debt.

The subprime auto lender has a good track record, but there are concerns about used-car prices normalizing, according to KBRA.