Changes that federal regulators are contemplating to the Volcker Rule could pave the way for CLOs to resume investing in high yield bonds, which they currently cannot do without putting themselves off limits to banks.
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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
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The AAA-rated Class A notes benefit from 61.79% “hard” credit enhancement, which is 30.25 percentage points higher than the senior tranche of the previous deal rated by Fitch, which was rated two notches lower at A.
July 5
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The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers Association said.
July 5
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Virginia National will set aside up to $950,000 to cover losses after ReliaMax, a firm that issues surety bonds for student loans, was placed into liquidation.
July 5
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Annisa CLO was originally issued in August 2016, just before risk retention regulation took effect, but was the firm's first deal to be dually compliant with both U.S. rules (which no longer apply to CLOs) and European rules.
July 3
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Fannie Mae and Freddie Mac enjoy considerable advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete.
July 3
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The deal is designed to improve capital ratios and reduce risk at the Seattle company.
July 3
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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.
July 2
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GoldenTree Loan Opportunties XII was one of nine CLOs that were reset or refinanced on Friday alone, as managers rushed to lower payment prior to July quarterly payments to investors; the tally for June as a whole is $30.9 billion.
July 2
