The loan used as collateral is part of $410 million of financing the sponsor obtained from Societe Generale to refinance the redevelopment of a 10-story mixed-use building on Eleventh Avenue in Manhattan.
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The captive lender is already underwriting and managing leases for GM electric cars in China; it is also buying and managing fleets for GM’s Maven ride-sharing program launched in the U.S. in 2016.
February 25
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Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.
February 25
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Expect even more actively managed CRE CLOs to be issued this year as investors get more comfortable with the idea of managers using proceeds from the repayment of collateral to acquire new bridge loan.
February 25
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CleanFund CEO Greg Saunders sees financing of multimillion-dollar Property Assessed Clean Energy projects coming at the expense of smaller projects of around $500,000.
February 25
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J.G. Wentworth first securitization of 2019 is backed by a similar mix of structured settlement and annuities receivables as its second deal of 2018, but the credit quality of the insurers making these payments is higher.
February 22
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The €400 million RRE 1 Loan Management DAC has a 4.5-year reinvestment period and two-year non-callable period, according to presale reports.
February 22
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Fewer mortgage borrowers are falling behind on their payments, and consumers' broader borrowing habits indicate an increased willingness to turn to nontraditional sources like fintechs for their lending needs, according to TransUnion.
February 22
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The selloff in the CLO market in the fourth quarter of last year may have caused Eagle Point Credit Co. some short-term pain, but the closed-end investment firm expects to profit from it in the long term.
February 21
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The partnership with Hallows HalseyPoint to step up the pace of recruitment of analysts and traders and open a warehouse line for loan accumulation by the end of May.
February 21
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Personal loan balances hit an all-time high in 2018, while fintech lenders widened their market share lead over banks and credit unions, according to new data from TransUnion.
February 21
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Some 35% of vehicles backing Driver UK Master Compartment 5 have diesel engines; presale reports do not indicate the percentage that meet more stringent EU emission standards.
February 21
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The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages.
February 21
