Moody's Investors Service says forbearance levels were a factor in assigning a higher expected net loss figure for Navient's new FFELP securitization.

The startup firm, backed by hedge fund capital, is pooling more than half of its managed railcar portfolio for the single-A rated transaction.

A pool of more than 1,600 contracts to small- and middle-market companies include financing for tractors, excavation equipment and dump trucks for firms in transportation, construction and waste services industries.

Issuance of securitizations backed by these loans is becoming more dependable, and Fannie will need more mortgages that finance newly-built energy-efficient homes to keep it going.

The CARES Act-related forbearances could be “lulling us into a false sense of security” as 12-month expirations approach, according to Black Knight.

The transaction consisting of $24 million in securitized Ginnie pools followed a 265% jump in broader industry eNote registrations last year.

Like other card issuers, the Stamford, Conn., company expects current trends — soft loan demand but strong credit quality — to reverse later this year as the economy emerges from the pandemic-induced recession.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.22-28

Dave Uejio, acting director of the Consumer Financial Protection Bureau, promised to protect veterans from predatory loans and to crack down on companies that improperly garnish stimulus checks or mistreat struggling borrowers.

The Chicago real estate private equity firm will issue $416.8M in notes financing its acquisition of retail, industrial and office properties leased by California-based Save Mart.

Investors were also reacting to the inauguration of Joe Biden and uncertainty over additional fiscal relief, Freddie Mac’s Chief Economist Sam Khater said.

DLJ and Nomura Corporate are sponsoring portfolios of mostly previously modified, well-seasoned mortgages that have at least two years of clean-current payment status.