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.
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The online lender is taking advantage of the cheaper funding this could provide to refinance a $610 million facility that does not expire for another year.
March 8 -
Ginnie Mae could limit how much servicing income mortgage lenders can sell off through a transaction if they don't establish a minimum 25-basis-point spread at the portfolio level by next year.
March 8 -
The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.
March 8 -
Bancorp 2019-CRE5 contains 46 loans on apartment buildings accounting for 82.4% of the collateral pool; that's up from 78.8% for the sponsor's prior deal.
March 8 -
The $1 billion DRIVE 2019-2 is backed by loans with slightly weaker credit metrics than the lender's prior deal, forcing it to increase credit enhancement.
March 7
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Paramount Equity Mortgage sold a solar finance business to SolarCity (now Tesla) in 2013; it has since rebranded itself as Loanpal and is readying its first solar loan securitization.
March 7 -
Despite a lower rate of increase, 2019 equity gains could pull 350,000 households from being underwater on mortgages, according to CoreLogic.
March 7 -
Oil and gas firms have represented the largest sector concentration for Enterprise Fleet Management since 2012, but had declined slightly in the sponsor's previous transaction.
March 7 -
PGIM gains a 20 basis-point reduction in the AAA note coupon as it reduces the reinvestment period by six months
March 6 -
Investors appear to be willing to accept lower spreads in exchange for tying their money up for less time; CLO managers may be hoping to refinance when market conditions improve.
March 6 -
Hines Interests used the $755 million loan from Goldman and JPMorgan to take out a $505 million mortgage from two insurance companies, MetLife and New York LIfe.
March 6 -
The majority of the collateral for Finsbury 2019-1 was originated over the past year, but it includes some loans from a 2016 deal that has been called; some of these older loans are delinquent.
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