That's in contrast with the sponsor's prior deal, completed in December, which tested the waters for mortgage bonds backed exclusively by second liens.
-
Tier 7 loans, which have lower limits on free cash flow and allow negative personal income, account for 7.26% of the collateral for the online lender's next transaction, according to Kroll.
February 8
-
Chrysler vehicles dominate Santander's latest pool, reflecting increased originations that CEO Scott Powell believes will maintain the lender's captive-finance status.
February 7
-
The firm founded by mortgage veteran Michael Vranos looks for leveraged loans it considers "misrated" with strong covenants; many of these loans also amortize relatively quickly.
February 7
-
The 131 basis-point spread for Buckhorn Park CLO is 14 basis points wider than Blackstone's previous deal in November, but in line with peer deals from recent weeks.
February 6
-
The New York and Israel-based investment management startup selected the initial collateral using machine-learning decisions; AI will also be used in determining when to sell consumer loans in the portfolio or buy additional assets.
February 6
-
For the first time in almost two years, borrowers are taking out floating-rate loans to refinance their student debt. So Navient is testing investor appetite for floating-rate bonds backed by refinance loans.
February 6
-
Och-Ziff Capital is suing BNY Mellon, as trustee, to compel it to calculate interest in a way that is more favorable to the class of securities it holds.
February 6
-
In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.
February 6
-
About half of collateralized loan obligations purchased loans at prices below face value in order to boost the par value of assets, improving overcollateralization.
February 6
-
Recent developments give the impression that the administration and lawmakers are in direct competition, but the ultimate framework may rely on coordination from both branches of government.
February 5
-
That's one notch lower than the sponsor's prior deal; the only substantial change is the valuation of securities that are deferring dividend payments.
February 5
-
Jonathan Levine, who represents asset managers and private funds in their investments in distressed situations, joins the firm from Morrison & Foerster.
February 5
