Securitization

The GSE comes to market with a pool that is less volatile than average Freddie Mac pass-through deals, plus below-average amortization.

Most of the home loans were originated post-COVID and are on owner-occupied properties.

Auto loan delinquencies and defaults had performed well thanks to federal intervention. Analysts expect them to return to historic levels, and then stabilize.

BDS 2021-FL9 is allowed to be fully collateralized by multifamily or manufactured housing properties, although it has concentration limits on other property types.

Based in Philadelphia, Mazzeo advises a range of client types on securitizations, and guides private equity and hedge fund managers through structured transactions.

While the collateral is high quality, analysts raised concerns about a number of key parties that they feel lack robust securitization experience and financial strength.

CIM is secured by home loans making the most of second chances, and borrowers retaining their homes throughout several economic dips.

It’s in the modeling and the long-term benefits, a cross-section of executive tells virtual crowd at Moody’s ‘Road to COP26’ event.

Conforming single-family homes, 65.3%, comprise most of the portfolio, and none of the borrowers in the portfolio had availed themselves of COVID-19 related forbearance.

The transaction is also the first securitization for ACREC. The entity is also taking on multiple roles, acting as sponsor, issuer and collateral manager.

Office imaging equipment and other business-related loan and lease contracts collateralize the highly diversified pool of obligors.

The bonds are federally taxable but exempt from California income taxes. Jefferies and Citigroup act as joint senior managers.

The July 21‘Risk Alert’ brings practices most common to hedge fund managers under scrutiny, but CLO managers who replicate those practices should also take heed.

To help determine certain forms of credit enhancement and loss triggers, LendingPoint 2021-B is tightening its definition of what a charged-off account is.

UBS Group AG’s exposure to stricken property developer China Evergrande Group is “immaterial” and limited to the execution of collateral calls on margin loans, Chief Executive Officer Ralph Hamers said Thursday.

AQFIT increases the program’s exposure to marine/RV loans to about one-fourth of the total collateral pool, and mitigates several factors related to the sponsor’s business practices.

Holdings Plc Chief Executive Officer Noel Quinn said the crisis enveloping China Evergrande Group was a worry for financial markets -- though he’s not concerned about the bank’s own exposure to Chinese real estate.

A high representation of working professional degree holders among borrowers, most notably, medical doctors, boosts confidence in the underlying collateral.

House Democrats set up a Tuesday vote on a bill that would suspend the U.S. debt ceiling until after the 2022 congressional elections and temporarily fund the government to avert a shutdown after the end of this month.

In a move becoming more commonplace for CRE CLOs, the collateral manager can direct modifications that are not subject to servicing standards in deal documents.