Insights

A library, not a feed.

Evergreen guides to the hedges borrowers and issuers actually face — grouped by who you are, refreshed in place as the market moves.

Affordable housing

Locking your permanent rate on an affordable housing deal

How a forward-starting swap locks the permanent rate before conversion, where a cap fits during construction, and how to size the hedge to the permanent loan.

State housing finance agencies

Managing prepayment risk with embedded cancellation options

Why HFA hedges carry cancellation options, how they are priced, and how they keep a hedge matched to a prepaying mortgage portfolio.

Commercial real estate

Agency cap requirements, from strike to DSCR, explained

How Fannie Mae and Freddie Mac set cap strikes, escrows, and reserves, and what drives the cost of a lender-required cap.

Municipal & 501(c)(3)

IRMA vs QIR: what a tax-exempt issuer actually needs, and when

The two roles are easy to confuse; what each does, when the rules require it, and why one firm can serve both.

Corporate

Your bank's swap quote is negotiable: lender-required swaps explained

When a credit agreement makes you swap a term loan, the lead bank usually prices it; where the markup hides, and how to check it.

Fuel & commodity hedging

How a public-sector fuel hedging program works

Budget certainty, not speculation: how transit and public-sector fuel users hedge diesel, gasoline, and natural gas, and the instruments involved.

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Independent hedging insights, no noise.