Securitization

The proposal is one of several that aims to address difficulties managing early buyouts from mortgage-backed securities pools.

Underwriting methods have been steadily shifting to traditional full documentation, which accounts for 13.3% in the VERUS 2024-9, KBRA said, its largest share since VERUS 2024-6.

The economist, who runs Roubini Macro Associates, is positioning for a curve steepener, a popular Treasuries trade where the gap between long- and short-dated yields widens.

Freddie Mac is offering a municipal bond option for investors in its ML multifamily securitization offerings starting with its December issuance.

The notes benefit from credit enhancement levels of 30.45%, 24.3%, 13.8%, 8.65%, 5.00% and 2.05% on the A1, A2, A3, M1, B1, B2 and B3 tranches, respectively.

Private-label securitization volume increased 75% this year versus 2023; conditions are right for that to continue, KBRA said.

The rise of private credit has had a surprising side effect: it's made borrowing cheaper for companies in other high-yield markets, and has probably made a key barometer of credit risk less accurate.

Fitch Ratings said Tesla Finance enters the residential solar finance ABS arena with underlying loans that have the highest WA FICO score presented to it for a rating.

The REIT was successful in achieving all of its near-term goals, its CEO said in an earnings call.

The notes receive credit enhancement from overcollateralization, and an initial reserve.