Navient Private Education Refi Loan Trust 2021-B has an average balance of $59,226 per account. The previous four Navient securitizations of refinanced private loans had average balances between $73,498 and $79,306.
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The $1.18 billion deal is also the first to include Tesla’s mid-range Model Y vehicle (with an MSRP of $54, 119) that makes up 36% of the securitized value of the TALT 2021-A pool, according to a presale report from Moody’s Investors Service.
March 22
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UMB Financial’s success in aviation financing has boosted fee income, and the Missouri company has opened an office in Dublin — a hub for airplane sales and leases that could get busier as the airline industry restructures.
March 19
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Deals, trends and research in structured finance and asset-backed securities for the week of March 12-18
March 18
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Relying on retained earnings alone, it would be until at least 2036, if not longer, before government control of Fannie Mae and Freddie Mae might end.
March 18
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New assistance for renters may help but past efforts, while necessary, failed to get relief to renters in an expedient way, said David Brickman, who is now the head of a new agency lending platform backed by Barings and Meridian Capital.
March 17
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The Blackstone-affiliated company recently took out a cash-out refi mortgage for a 17-property portfolio, an opportunity aided by high demand for its R&D facilities for COVID-19 research.
March 17
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While the economic recovery and stimulus checks drove upward movement in purchases, it wasn’t enough to offset tumbling refinance activity.
March 17
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The company is still searching for someone to fill the roll on a full-time basis, but the $600,000 annual salary cap may limit the candidate pool.
March 16
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The sponsor has refrained from multi-borrower deals since March 2020, but has pooled together 28 loan participations from 40 properties – including notable concentrations in retail and lodging.
March 16
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Carvana will use proceeds to pay down existing debt and to fund general corporate purposes.
March 15
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With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs.
March 15
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Deals, trends and research in structured finance and asset-backed securities for the week of March 5-11
March 12
