The Dallas auto lender might lose as much as one-third of its business if it severs ties with the automaker, raising fresh questions about whether its parent company will buy out shareholders and take full ownership.
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The $109.3 million CLEAN 2018-1 is also the first deal to be marketed as a Rule 144A transaction under securities regulation making it available to wide base of institutional investors.
July 10
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The fast-growing national health club chain plans to market between $1.23 billion and $1.33 billion of bonds backed by franchisee royalty and fee payments; proceeds will be used to pay off bank debt and fund a dividend to shareholders.
July 10
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A Fannie Mae test to handle the private mortgage insurance process for lenders may raise concerns that it's going outside the scope of its secondary market mission. But the effort reflects its mandate to explore new credit-risk transfer alternatives, a company executive said.
July 10
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A more conservative court will be likelier to rule favorably on issues ranging from the deference for regulatory agencies to what constitutes a fair-lending violation.
July 9
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It has obtained a $1.2 billion loan on Atlantis Paradise from Citigroup and Goldman Sachs that will be used as collateral for an offering of mortgage bonds; proceeds will be used to repay existing debt and cash out $149 million of equity.
July 9
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Once again, congressional inaction on reauthorizing the National Flood Insurance Program is prompting concerns about what a lapse in coverage could mean for loan closings.
July 9
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The lack of concrete lobbying victories had become an issue with some members in the group, possibly leading to a splintering of support among members and the board for continuing the executive director's tenure.
July 9
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Private student loans made before the financial crisis were once considered a toxic asset. A recent $414 million securitization by FirstKey, an affiliate of Cerberus Capital Management, shows how much things have changed.
July 9
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Online lenders and other firms await news from OCC and Treasury on the future of their supervision, even as they absorb the news that Square had to temporarily pull its industry loan company application.
July 6
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Most managers are looking to add three to five years of investable life through CLO resets and refis, but Apollo is sticking with a four-year reinvestment window in a refinancing of its 2016 ALM XVII portfolio.
July 6
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Loans originally securitized in three 2013 transactions account for some 11.4% of the initial collateral for the $230 million CPS Auto Receivables Trust 2018-C, according to S&P Global Ratings.
July 6
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As more new-vehicle buyers flock to General Motors' high-ticket trucks and SUVs, GM Financial has to supply riskier 60-plus month loans to finance them. That's prompting higher net ABS loss projections from Fitch.
July 5
