Since the financial crisis, only one other sponsor, Invictus Capital Partners, has issued publicly rated mortgage bonds backed entirely by investor loans.
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HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.
February 15
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Credit enhancement and expected loss levels in Upstart's 2019 securitization debut have risen from its previous deal last August.
February 14
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The 24% concentration of 61-month or longer loans is American Honda Finance's lowest from its prime auto loan ABS shelf since late 2017.
February 14
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The rating agency has developed rating criteria for bonds backed by oil and gas royalties, though such deals would be capped at the 'A' rating category.
February 14
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Barclays, BMO, Citibank, Goldman Sachs and ING contributed to the online student lender, which last year made over $1 billion in loans.
February 14
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CIG is marketing $161.9 million in bonds backed by auto loans made through independent dealers, while RAC is placing a $174.5 million securitization of used-car leases.
February 14
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Octagon Investor Partners 40 limits “covenant-lite” loans to 60% of its portfolio, below the 65% cap on it's previous new-issue deal completed in November.
February 14
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Although mostly active as a middle-market CLO manager, asset manager Golub Capital is printing a new open-market CLO sourced by its large-corporate loan investments.
February 13 -
Industry observers will be closely monitoring Mark Calabria's testimony before the Senate Banking Committee on Thursday for hints about how the Trump administration plans to proceed on mortgage finance reform.
February 13
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The real estate investment trust obtained $230 million of loans from four banks: Citi, Barclays, BofA and Deutsche. A $200 million first mortgage is being securitized.
February 13 -
The global insurance firm, which operates a three-year-old CLO management affiliate, has now launched private credit unit that will pursue controlling interests in deals managed by others.
February 12
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The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.
February 12
