Moody's notes that the practice masks the actual performance of the equipment lessor's recent securitizations; the rating agency has increased its expectation for cumulative net losses on the latest deal by 25 basis points, to 2.75%.
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A bill that would ease Basel III capital requirements on commercial real estate loans could level the playing field between depository and nonbank lenders and spur more construction lending if it passes in the Senate.
November 10
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Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to spark intense debate.
November 10
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Both transactions are backed primarily by narrowbody aircraft; WorldStar's finances a third of its fleet; Aergen is refinancing its entire fleet and obtaining $100 million of delayed draw funding.
November 10
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That's only half as large as the lender's four previous deals, which ranged from $1.02 billion and $1.12 billion; company executives recently touted a shift toward more financing from deposits.
November 9
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Over 80% of collateral for the $2 billion transaction consists of trucks, SUVs and crossovers; the deal is also the largest that the captive finance company has sponsored in the last three years.
November 9
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Four tranches of rated notes totaling $591 million were issued, resulting in an advance rate of 92% vs 88% for the previous deal; pricing also improved.
November 9
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Impac Mortgage Holdings' nonqualified mortgage origination volume increased 248% year-over-year in the third quarter as the company accumulates loans for a planned securitization next year.
November 9
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Unlike Santander’s existing retail auto loan platform, Santander Retail Auto Lease Trust 2017-A is backed by prime quality collateral. The leases were originated by its Chrysler Capital division, through dealers of Fiat Chrysler vehicles.
November 9
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For the first time in five years, MassMutual has a second securitization within a calendar year backed by loans and leases to large corporates, including federal government agencies.
November 8
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The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt.
November 8
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The company increased the concentration of sub-550 Beacon score borrowers to more than 13%, and cut the share of prime 700-plus loans by more than two-thirds from its prior deal.
November 8
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A mortgage on the marquee Caesars Palace Las Vegas is being used as collateral for $1.6 billion of mortgage bonds; proceeds will be used to repay existing indebtedness.
November 8
