Aluko counsels clients on legal aspects of investment management, private investment funds including real estate funds, private equity funds, and hedge funds, derivatives, and regulatory matters; he joins the firm from SECOR Asset Management.
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As a result of the forward flow agreement, Kroll has increased expected recoveries, allowing Upstart to lower credit enhancement on its next securitization.
July 31
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The $259.1M transaction amortizes features a lower-than-average annual amortization (7.2%) and a longer-than-usual weighted-average list test, and a hiigh concentration of dry containers.
July 30
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"Administrative" issues from a merger of servicing centers had caused a spike in its 2017 corporate auto-fleet lease delinquencies. But the Toronto fleet manager's late-payment problems have subsided this year.
July 30
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Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.
July 30
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Towd Point Mortgage Funding 2018 Auburn 12 Plc is backed by 2,913 properties, all of which were previously securitized in the sponsor’s 2015-vintage Auburn Securities 9 portfolio.
July 29
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The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands.
July 27
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Fannie Mae has issued securities supporting the transition away from the London interbank offered rate; something that could become more pressing for lenders if adjustable-rate mortgages were to become more prevalent.
July 27
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A ruling involving a Cleveland law firm casts doubt on CFPB claims that attorneys misrepresent their role to consumers.
July 27
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Recent documentation tweaks that afford "excessive amounts of flexibility" to CLO managers can introduce "material, and even unquantifiable, risks" into transactions, according to the rating agency.
July 27
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A $333 million first mortgage on the Palmer House Hilton, a 24-story building with 1,641 guestrooms in Chicago’s central business district, is being securitized by JPMorgan Chase.
July 27
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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.
July 26
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Just 5.1% of the $91 million of liens backing the transaction are vacant, down from 9.2% of the prior deal; this allowed the sponsor to borrower more heavily against the value of hte collateral.
July 26
