Bank of America, Citigroup and JPMorgan Chase all received failing grades on Fannie Mae's test of mortgage servicers based on overall performance, customer service and foreclosure prevention efforts.
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Ocwen Financial (OCN) is one of several servicers bulking up in subprime in hopes of a day when it is no longer a dirty word.
June 17 -
CVC Credit Partners is marketing a $600 million collateralized loan obligation, according to Moody’s Investors Service.
June 17 -
Nelnet is preparing a $453 million securitization of federally guaranteed student loans, its fourth of the year.
June 17 -
Sallie Mae has appointed Steven McGarry as senior vice president of corporate finance.
June 17 -
Iconix Brand Group priced an upsized offering of $275 million of notes backed by licensing fees.
June 17
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U.S., U.K. and Canada credit card performance will remain stable for the remainder of 2013, with Canada more sensitive to unemployment rate moves.
June 17 -
Credit Suisse is planning to issue a £200.2 million ($314 million) securitization backed by U.K. buy-to-let and owner-occupied non-conforming residential mortgage loans, from its Alba series.
June 14 -
Sallie Mae sold $225 million of BBB-rated bonds with a 3.05-year weighted average life and a 3.5% coupon rate via its SLM Student Loan EDC Repackaging Trust 2013-M1.
June 14 -
Ford Motor Co. priced its Series 2013-3 and Series 2013-4 auto floorplan-backed securitizations, according to a Securities and Exchange Commission filing.
June 14 -
Hyundai Capital America plans to return to the securitization market with a $1.5 billion auto loan securitization deal issued from its auto receivables trust.
June 14 -
The Morgan Stanley Bank of America Merrill Lynch Trust is marketing a $1.5 billion CMBS certificates transaction. MSBAM 2013-C10 certificates represent the beneficial interests in a pool of 75 commercial mortgage loans secured by 87 properties. The certificates follow a sequential-pay structure.
June 14 -
SNL reports that, in some cases, it’s not just the attractive yield or familiarity with the asset class, but a desire for exposure to the commercial loan backing these securities.
June 14