The $510.2 million transaction, BDS 2018-FL1, is primarily backed by multifamily (47%) and office buildings (42.1%) originated by ROC Debt Strategies Fund II REIT.
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The fintech lender's latest offering of $234 million bonds were priced at a 27-basis-point improvement from its previous deal; cheaper funding will allow it to better compete for borrowers in a rising rate environment.
March 12 -
Essent Guaranty is marketing $360.75 million of notes linked to the performance of a pool of residential mortgages that it insures; its following in the footsteps of Arch Capital.
March 12 -
Triton Container Finance VI is the second marine-cargo shipping container ABS to launch this year, and will be Triton's third since June 2017.
March 9 -
Department of Education Secretary Betsy DeVos says the companies hired by the government to service its own loans should only be subject to federal oversight.
March 9 -
The legislature has passed a bill that would allow lenders to make installment loans that, in many cases, would be more costly than payment loans. If Gov. Rick Scott signs it, Florida would become the first state to pass a law designed to blunt the impact of the CFPB’s crackdown on high-cost consumer loans.
March 9
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Over 40% of the collateral is from two 2016-vintage transactions that were recently "collapsed" because proceeds from liquidations had slowed. Then there's the exposure to Puerto Rico.
March 9 -
Credit enhancement on the senior tranches of notes to be issued is unchanged from the prior six deals, at 24.38%; monthly payment rates by dealers continues to trend upward at 40.5%.
March 8 -
The performance of outstanding transactions issued via the Capital Auto Receivables Trust platform is weakening, so rating agencies are demanding additional investor protections.
March 8 -
The pool of 41 mid-life aircraft backing Sapphire I has a weighted average age of 12 years and is "largely liquid," according to Fitch Ratings, and there does not appear to be any sort of negative asset selection.
March 8 -
Discover's master trust is issuing $800 million in its first deal since October; Scotiabank has priced US$600 million in card receivables in its first cardholder account securitization in two years.
March 8 -
Credit enhancement on the senior notes has risen to 36.25% from 28.7% to account for higher expected losses on the collateral; Kroll's base-case range is for 6.75% to 8.75% over the life of the deal.
March 8 -
It's the busiest start to the year, post-financial crisis, for collateralized loan obligations, according to Thomson Reuters, and nearly 60% higher than the pace set in the first two months of 2017.
March 7














