Physicians account for 28.8% of borrowers in the collateral pool, up from 22% for SoFi's previous student loan securitization, according to Moody's Investors Service. Notably, fewer of these, 4.2% versus 7.8%, are in residency programs.
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New research from the New York Fed found that banks with more than $50 billion of assets originate more subprime car loans than small banks and credit unions do.
February 12
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The online lender founded by Renaud Laplanche contributed half of the collateral for the $226.9 million transaction. It's also retaining a 5% economic interest in the deal.
February 12
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The installment lender, which bills itself as an alternative to payday lenders, targets underserved communities and operates through a network of retail partners.
February 12
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The Renaissance and Grand Hyatt Seattle, both sponsored by R.C. Hedreen, account for 14.2% of the assets in the $774.1 million JPMCC 2018-COR4.
February 11
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Late payments on loans backing commercial mortgage bonds continued falling at the start of the year, due to strong new issuance volume and continued resolutions for precrisis loans by special servicers, according to Fitch Ratings.
February 11
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The $756 million GSMS 2019-GC38 is backed by with 36 loans secured by 53 properties; nine of the loans (29.2% of the total balance) are secured in whole or in part by 12 single-tenant properties.
February 11 -
Howard Goldwasser and Skanthan Vivekananda will be based in New York and Los Angeles, respectively.
February 11
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GM Financial is front-loading the $1.2 billion deal with early maturities, according to presale reports; Hyundai Capital is also readying a $710 million transaction.
February 8
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Golub Capital BDC has also obtained shareholder approval to boost leverage, but David Golub said this was designed to give the middle-market lender more flexibility.
February 8 -
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
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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
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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
