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Community banks that could reel in cheap deposits while keeping a lid on expenses were able to outperform peers in 2024.
The notes will be repaid sequentially, and with subordination, a reserve account that can be replenished and overcollateralization, the notes receive greater credit enhancement over time.
While the 30-year rate landed near its level of a week ago, it ended up there only after political developments led to up-and-down swings in Treasurys.
Optimism over lower rates spurred a shift into riskier corners of Wall Street — as money exited the long-favored safety trade of technology megacaps.
No single company contributes more than 15% to the pool, while SN Servicing will service 84.3% of the loans in the pool.
