1.5% vs their current 3.5% cost of funds on $225m
that means a $4.5m annual saving, plus it frees up balance sheet, plus lowers their on going cost of warehouse funding.
very rare that a non bank can securities this type of thing, with a AAA rating and a at such a rate.
this is very good news in my opinion. Huge validation too.
Ann: WZR Prices Inaugural ABS Transaction with AAA Rating, page-4
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