Approximately 81.5% of the borrowers in the latest deal have more than one mortgaged property; those with three or more mortgages (with a maximum of 10) represent 45.5% of the pool and generally show considerable income and liquid reserve.
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Managers surveyed by IACPM generall agree a downturn in the current global credit cycle is coming, but aren't yet "willing to put on the brakes."
October 18 -
Enterprise Fleet Management's third securitization of the year feature leases with just two months of seasoning, on average.
October 18 -
The $286.4 million deal is an important test for Upgrade, which has raised $142 million of equity over the past two years but has yet to turn a profit.
October 18 -
The mortgages being reinsured are more seasoned than most other deals rated by Morningstar, which helps offset the risk of lower initial weighed average LTV.
October 17 -
S&P also upgraded five more senior tranches of the deals citing paydowns, which in one CLO was accelerated by the diversion of interest from sub notes.
October 17
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Questions surrounding Eric Blankenstein, a senior CFPB official whose racially charged writings from over a decade ago have led to calls for his resignation, have been referred to the agency's watchdog.
October 16 -
The $462.3 million VMC 2018-FL2 will be backed by 25 properties, two of which will be acquired after the deal closes.
October 16 -
Fitch Ratings and Moody's Investors Service each rate a single collateralized loan obligations with exposure to debt of the former retail giant.
October 16 -
ODX will pursue deals with banks that want to use the New York lender’s technology to offer online small-business loans.
October 16 -
Jamba collateral has been added to the master trust, which will issue $300 million of new notes; proceeds will repay $200 million of existing notes.
October 15 -
The rating agency feels that “late-cycle credit behavior” is allowing less established issuers to rely on the securitization market more heavily for funding.
October 15 -
The REIT is purchasing another $500 million of credit risk transfer notes through Fannie's L Street Securities program; this is its first deal rated by Fitch.
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