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.
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Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank.
August 23
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Santander has commonly offered multicurrency (dollar and pound-sterling) notes through its Holmes master trust platform.
August 23
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The committee approved the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau, despite strong Democratic opposition, as well as President Trump's picks for Ginnie Mae, the Export-Import Bank and several other positions.
August 23
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Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.
August 23
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Volkswagen Bank's Driver 15 is its first German auto-loan securitization since March, as Europe's largest auto-finance company furthers a comeback from the 2015 VW diesel-engine scandal.
August 23
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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
