Hertz Vehicle Financing II LP, Series 2018-1, is a master trust, and the notes share collateral on a pari passu, or equal basis, with Hertz’ other outstanding series of notes.
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Eliminating the requirement that CLO managers keep skin in the game of deals should boost issuance, but this could result in weaker credit quality of collateral as competition for loans increases.
February 13
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The online small-business lender is enjoying a payoff from its year-old push to cut costs and tighten underwriting standards. It is also set to announce another lending agreement with a major bank this year, its CEO said Tuesday.
February 13
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Moody's Investors Service has revised its expectations for cumulative net losses, to 3.75% from 3.5%, because a 2016 transaction is not performing as well as expected.
February 13
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Continuing to pull back the reins on the aggressive approach taken under former Director Richard Cordray, the agency's new five-year plan values consumer choice over heavy-handed enforcement.
February 12
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A new due diligence firm created by a trio of former Clayton Holdings executives wants to shake up a static business model.
February 12
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The transaction is backed by nearly three times as many Audi, Volkswagen and Skoda as VW's previous UK auto-loan ABS; it also features a longer revolving period.
February 12
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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.
February 12
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There could be a pause in new issuance as CLO managers wait to see if the government will appeal; longer term, the pace will pick up as the playing field is leveled for smaller managers.
February 12
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Nearly 52% of the pool in the captive-finance company's first 2018 vehicle-lease securitization involves contracts for popular crossover models like the Chevrolet Equinox, the GMC Acadia and Cadillac XT5.
February 12
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Fintech firms and industry watchers hope the pilot program will help fix a balkanized chartering system, but getting enough states on board to expand the plan's reach could be a challenge.
February 9
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A three-judge panel for the D.C. Circuit Court of Appeals has sided with the LSTA in its lawsuit seeking to reverse rules requiring CLO managers to hold "skin in the game" under Dodd-Frank.
February 9 -
Quicken Loans, Citizens Bank and Better Mortgage are refinancing loans using Airbnb income as part of a pilot project with Fannie Mae.
February 9
