ABS

The pool is well seasoned with a weighted-average seasoning of over 10 years for almost the full pool, according to S&P Global Ratings.

The certificates are backed by a single loan for 10 retail centers in nine states. AMC Theatres is the portfolio's largest tenant, representing 10.4% of the portfolio's base rent.

PRPM 2023-NQM3 Trust has issued residential mortgage-backed securities that are supported by 516 loans, 23% of which were originated by Newfi Lending.

Bostic said he expects the US central bank will cut rates twice in 2024 — in the second half of the year — as inflation continues to slowly decline.

Any capital injection from GIC would follow an effort by Apollo to raise capital that enables Atlas SP's balance sheet to grow to more than $50 billion from about $40 billion in February.

US 30-year yields dropped seven basis points to 4.79%, unwinding part of Thursday's surge that was driven by a somewhat disappointing inflation reading and a weak bond auction.

Delinquencies are balanced by low loan-to-value ratios, which could result in more favorable recoveries in the event of defaults.

Two-year Treasury yields slid a percentage point over three days in March, the most since 1982. Gone are the days when inflation was the main menace.

The five-year notes benefit from overcollateralization equal to 35%, and will use the proceeds to repay a line of credit facility.

Bond traders boosted bets that the Federal Reserve may re-accelerate the pace of rate increases at the policy meeting later this month.

The uptick in cash balances might indicate the challenges issuers are facing originating new loans for reinvestment in commercial real estate CLOs.

Some 2.9% of the pool—comprised of 1,705 loans—was 30 days delinquent, and 68.3% of the loans had experienced one or more delinquencies in the past 24 months.

Clients of dv01 leverage the firm's loan-level data for a range of purposes, including securitization and performance analysis.

The strategists are among the most bullish top-ranked voices on US equities and expect rate-sensitive growth stocks to maintain their outperformance over the value basket.

More of the business is now controlled by independent lenders, and with mortgage volumes plunging this year, many are struggling to stay afloat.

Questions remain around switching benchmarks that could result in unexpected refinancings

Purchasing mortgage-backed securities—and that strategy is not out of the question as the central bank works to promote equilibrium in the housing markets over time.

Home price values of the underlying pool are more than 10% above a long-term sustainable level. The sustainable level from a national point of view is 9.2%.

Real-estate owned assets sold in 2021 achieved 109% of the most recent appraised value, on average, compared with the 97% that the sales achieved, in 2020.

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.