The credit quality of the initial collateral pool is similar to that of United Auto Credit Corp.'s previous transaction, but the performance of the lender's managed portfolio of subprime loans is improving.
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Peter S. Kalikow, a leading New York City real estate investor, is tapping the securitization market for a cash-out refinancing of a 1.3 million-square-foot, 48-story building at 101 Park Ave.
August 22
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Annaly Capital Management will be able to proceed with a delayed exchange offer needed for its acquisition of MTGE Investment Corp. because it has been able to satisfy incomplete deal conditions.
August 22
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Borrowers who were once delinquent but are now making timely payments account for a quarter of the collateral, more than the student loan servicer's past two deals.
August 22
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The agency said the market for larger rental investors may not need additional liquidity from Fannie Mae and Freddie Mac.
August 21
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PACE Funding Group, based in Los Gatos, Calif., recently obtained a $55 million line of credit from SunTrust Bank and Rosemawr Management and is gearing up for its second securitization later this year.
August 21
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The $502 million Diamond CLO represents the first securitization of small/medium enterprise loans since Blackstone in the second quarter relaunched a direct lending business.
August 21
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The transaction comes with a bigger prefunding account than the sponsor's prior deal, completed in 2015; the collateral is also more geographically diverse.
August 20
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Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary.
August 20
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New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.
August 20
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The expiration of Annaly Capital Management's offer to purchase MTGE Investment Corp. was delayed until Sept. 7 so the two real estate investment trusts have more time to satisfy deal conditions.
August 20
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SUVs account for 41.3% of receivables backing HAROT 2018-3; that's up from 37.9% of Honda's prior deal and the first time exposure has increased since early 2017.
August 18
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Similar to the sponsor's prior transaction, however, the collateral includes a large portion of loans underwritten using bank statements to verify borrower income: 49%.
August 17
