ABS

The collateral pools consists of 578 loans, and the trust uses a senior-subordinate, shifting-interest structure that helps maintain a longer subordination period.

Any reinvestment assets chosen for the trust must be a healthcare property, and they must be intended for refinance with the proceeds of an agency mortgage loan.

Federal Reserve officials at their last meeting stressed the need for flexibility on how quickly they will scale back their bond-buying program as well as the timing of interest-rate increases, before data showed inflation accelerating.

The deal also provides a sequential principal distribution to all of the certificates at all times, unlike recent non-prime securitizations.

Benchmark will issue 21 classes of certificates, with 13 entitled to principal and interest payments. Six classes will receive interest only.

The enormous issuance is backed by a single loan secured by first-priority mortgages on a pool of about 6,148 single-family rental homes, and 299 townhouses.

The bonanza from Wall Street operations is a source of relief for banks struggling to earn more from traditional lending operations, which have suffered from lukewarm demand and a prolonged period of low interest rates.

The entire pool is comprised of fixed-rate, fully amortizing mortgages, with an average balance of $901,373. They are also first-lien loans.

One issuer says inclusion of enhanced reporting is the first step toward putting the entire RMBS platform on the blockchain.

In a recent note to clients, JPMorgan strategists including Nikolaos Panigirtzoglou noted that inflation surprises are likely to persist into 2022 as supply bottlenecks and commodity price rallies continue.

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

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

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

Sequoia Mortgage Trust is among the first to include a distributed ledger agent in its reporting processes.

While the loss coverage is subsequently lower for the notes, totaling $194.2 million, it is expected to be sufficient to cover required rating multiples.

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

Low pool concentrations of loans on properties located in Ida's path, plus robust property insurance are expected to rein in impacts and insulate noteholders.

A majority of the deal was underwritten to a less-than-full documentation standard, but meets ATR standards. Almost half of the loans are on California homes.

The deal appears to take advantage of a shift in federal rules reducing the level of non-owner-occupied loans Fannie Mae and Freddie Mac can purchase.

A white paper released Monday by the Alternative Reference Rates Committee outlined how issuers could (and perhaps should) model new floating-rate transactions using a compounded version of the interbank overnight rate instead of Libor.