BMW Financial Services is seeking to price a $1.45 billion bond package backed by closed-end, retail auto lease contracts. Toyota Motor Credit is making a $1.5B or $2.25B offering through its extended note platform.
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Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 26-March 4
March 5
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In the midst of the pandemic recession, banks have benefited from government stimulus payments to consumers, low interest rates and constraints on the supply of new vehicles. But intensifying competition and real concerns about borrowers’ ability to pay loans that went into forbearance could soon threaten profits and credit quality.
March 4
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The deal is also the first to come to market since BlueGreen Corp’s $131 million BXG Receivables Note Trust 2020-A last October.
March 4
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The agency will allow an additional three months of forbearance for multifamily property loans backed by Fannie Mae and Freddie Mac, as long as tenant protections are offered.
March 4 -
The underlying sellers of the loans are approved lenders and servicers by Fannie Mae, Freddie Mac and Ginnie Mae.
March 4
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Ratepayer bond securitizations have helped utilities defray litigation expenses or finance 'stranded costs' related to deregulation since the '90s . A new wave appears imminent, driven by green-energy conversion needs and relieving the burden of pandemic-related consumer assistance.
March 4
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The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.
March 3 -
The agency issued a proposal moving the compliance date for the Qualified Mortgage rule revamp to October 2022.
March 3
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DBRS Morningstar and S&P Global Ratings each have lower projected net losses for the $1.1 billion Westlake Automobile Receivables Trust 2021-1 transaction, in comparison to the subprime auto lender’s prior $1.4 billion securitization that priced in October 2020.
March 3
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As government debt swells, the outer limits of what the U.S. can safely borrow are becoming less and less clear.
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The 18 centers operated by industrial real estate management firm LBA Logistics are nearly all warehouse/distribution types, with no flex-industrial space pooled into the collateral mix.
March 3
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A slight lift in the purchase market paired with a surprising reversal in the size of the average loan, according to the Mortgage Bankers Association.
March 3
