About 8.5% of loans backing the $256.2 million transaction were reassigned from a 2015 deal; this boosted the weighted average seasoning to seven months from one month for ACA's prior deal.
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A two-year-old lawsuit by the CFPB may be languishing, but nine members of the Teachers Federation of America sued the student loan servicing giant alleging that it misled borrowers in public service professions in order to line its pockets.
October 3
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FASST 2018-1 has a lower weighted average loan-to-value ratio than prior deals by either the sponsor or rival Nationstar; this lessens the risk of loss, though liquidation timelines may be longer.
October 3
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The $226.5 million transaction looks very similar to the previous one; the heaviest concentration of receivables is long-haul trucks (23.3%), followed by trailers (21.2%), heavy equipment (11.9%) and short-haul trucks (9.3%).
October 3
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Two of the three largest loans in the $951 million deal are $50 million slices of loans on the Aventura Mall in Florida and the Christiana Mall in Delaware.
October 3
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The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections."
October 2
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A growing number of asset managers are waking up to the opportunity to lend to small and medium-sized companies, and much of this direct lending is making its way into the securitization market.
October 2
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The four-year-old transaction is still in its original reinvestment period, but the collateral has had growing levels of defaulted and triple-C rated assets.
October 2
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Blackstone Real Estate Income Trust obtained a $257 million mortgage from Barclays on 17 hotels with a total of 2,189 rooms across seven states; it still has $177 million of equity in the properties.
October 1 -
Seven Republican senators urged regulators on Monday to consider additional changes to the Volcker Rule's "covered funds" definition.
October 1
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First Foundation sold loans to Freddie Mac to free up space for higher-yielding credits. It then bought the securities that were formed to replace other, lower-yielding assets through an often overlooked program.
October 1
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Similar to estimates published by Moody's and Morningstar, the data provider reckons that more than half of the loans are securitized by Fannie, Freddie or Ginnie.
October 1
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The spread on the AAA rated notes issued by KKR 23 CLO is unchanged from the manager's prior deal, but three of four subordinate tranches are priced wider than the June transaction.
October 1
