The London interbank offered rate has its faults, but at least it compensates for counterparty risk; not so the benchmark being touted as a replacement.

The Show Me State accounts for 9.1% of the collateral, up from 3.4% from the sponsor’s prior deal, completed in November; as of April, 12 homeowners in the state had missed a payment.

The credit characteristics of borrowers are similar to those of the insurer's previous transaction in March, with a weighted average FICO of 777, income of $243,738 and liquid reserves of $236,904.

The Dallas-based lender, a unit of the global banking giant Banco Santander, was able to lower credit enhancement on the senior notes to 63.55% from 65.25% on the previous deal in February.

AmeriCredit returns to securitization for the first time since November with a $1.1 billion deal, while Flagship's $223 million deal, its second of 2018, takes a step back in collateral quality.

The senior tranche of Credit Acceptance Auto Loan Trust 2018-2 benefits from initial credit enhancement of 51.61%, up from 49.93% in a February deal; it comes from additional subordination.

The CFPB's acting director announced new political hires and more plans to overhaul the agency in an email Wednesday.

PHH Corp. took a net loss in the first quarter but was able to surpass minimums for net worth and available cash necessary for Ocwen Financial to acquire the company.

Collateral for the mortgage bonds does not include what Moody's Investors Service terms the "improvements," a 42-story building, state-of-the-art digital signage or a 452-room luxury hotel.

Legal costs and legacy issues related to previous management continue to weigh on the online lender's results.

Despite the entrance of several large players over the past several years, financing to small-time landlords is still inefficient, executives say.

The average AAA note coupon of 103 basis points above Libor widened from 98.4 in March, which had been the tightest CLO spread level in approximately five years.