CLO issuance is already 55 percent above last year's exceptionally strong pace. With new paper coming to market and a frenzy of refinancing and resetting activity, there is no denying that CLOs are hot. Read on to learn more.
The Dallas-based lender's third foray into the deep subprime ABS market in 2018 arrives as recent Santander DRIVE securitizations are performing well with recently lowered loss expectations from S&P Global Ratings.
The U.S. captive finance arms of Nissan North America and Daimler AG (Mercedes-Benz) have joined CarMax in sponsoring prime-loan asset-backed portfolios adding to a deal spree totaling $61.3 billion so far in 2018.
The 1,210-loans backing Gemgarto 2018-1 all finace owner-occupied loans, and none rely on self-certified or no-income documentation, according to presale reports from Moody's Investors Service and DBRS.
In the U.S., the 12-month trailing default rate fell to 3.4% in June from 4% in March, while in Europe it declined to 2.2% from 2.8% over the quarter. Globally, defaults stood at 2.9%, down from 3.4% in the first quarter.