Collateralized loan obligation managers and arrangers have long argued that they should not be subject to the requirements to retain “skin in the game” of these deals. CLOs, which are backed by below investment grade corporate loans, didn’t contribute to the financial crisis, the argument goes, and they shouldn’t have to pay the price for it.
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The Federal Housing Finance Agency ordered Fannie Mae and Freddie Mac to increase charges known as guarantee fees, or g-fees, that are embedded in the cost of home loans to protect investors from losses.
December 11 -
Chase Bank priced an upsized offering of $750 million of bonds backed by credit card receivables from its Chase Issuance Trust.
December 11 -
Exempt from the rule's definition of "covered funds" are foreign public funds, wholly owned subsidiaries, loan securitizations, qualifying asset-backed commercial paper conduits, and qualifying covered bonds.
December 11 -
Citigroup looks poised to make another run at selling OneMain; future funding could come from securitization of consumer loans.
December 10 -
Chase Bank returns to market with another $500 million credit card receivables securitization from its Chase Issuance Trust.
December 10
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The commercial mortgage-backed security (CMBS) linked to a single borrower in New Yorks Garment District the 23-story Eleven Penn building priced according to data reported by Interactive Data.
December 10 -
Nationstar priced the $144.5 million, triple-A rated class A notes issued under its RMBS deal, Nationstar Mortgage Loan Trust 2013-A.
December 10 -
The pool of loans in this conduit transcation have the highest average loan-to-value ratio of any recent CMBS rated by either Fitch or Kroll.
December 10 -
The Structured Finance Industry Group (SFIG) Las Vegas conference scheduled for Jan., is on track to be the largest securitization event of 2014 with an anticipated 5000 attendees.
December 10 -
Standard & Poors expects the credit quality of new issue commercial mortgage bonds to deteriorate in 2014 as the result of increased competition among lenders.
December 10 -
The seven largest student loan servicers can handle the bump in operating costs that will result from the new oversight of the Consumer Financial Protection Bureau (CFPB); but not the smaller servicers, Fitch Ratings said.
December 9 -
Wells Fargo and Royal Bank of Scotland are marketing a $1.03 billion deal; there's also a $1.1 billion offering fro Deutsche Bank and Cantor Fitzgerald.
December 9