CarMax Superstores' first $1.2B-$1.5B prime loan securitization of 2019 has its lowest concentration to date of passenger vehicles in its nearly 20 years selling notes backed by receivables.
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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
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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
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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
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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
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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
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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
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Jonathan Levine, who represents asset managers and private funds in their investments in distressed situations, joins the firm from Morrison & Foerster.
February 5
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Absent some policy change, nearly a third of the loans backed by Fannie Mae and Freddie Mac could be in violation of the Consumer Financial Protection Bureau's Qualified Mortgage rule in two years.
February 4
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They join Blackstone/GSO, PGIM, Credit Suisse, Guggenheim Securities and the Carlyle Group in reopening a new-issue market that was dormant in December.
February 2 -
As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub.
February 1
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Just 28% of vehicles backing the $400 million Avis Budget Rental Car Funding Series 2019-1 come with repurchase agreements from the manufacturers, including Ford, General Motors and Chrysler.
February 1
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Executives from Ally Financial and Santander Consumer USA gave rosy outlooks about 2019 consumer trends, while other banks that rely less heavily on car lending offered more cautious appraisals.
February 1
