The sponsor obtained a $1 billion mortgage from JPMorgan, Goldman and Citi; proceeds will be used to repay $715 million of debt taken out in 2015 to acquire the original portfolio from Apollo Global Management.
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The company, formerly known as Colony American, completed three previous transactions, the last one in 2016, before rules requiring sponsors to keep “skin in the game” of their deals took effect.
October 24 -
The U.S. Second Circuit ruled that Momentive Performance Materials should use what's known a a "market rates" formula to determine the appropriate payout for a series of replacement notes issued to bondholders.
October 23 -
British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.
October 23 -
Veros is based in California but recently expanded on the East Coast, resulting in a dip in credit performance; Kroll capped its rating in the senior notes of the $165 million deal at single A.
October 23 -
The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.
October 23
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After issuing only a single prime auto lease securitization in 2016, Ford Motor Credit's trust has returned to its traditional twice-annual schedule it followed from 2010-2015.
October 22 -
Capital Auto Receivables Asset Trust has just 3.3% of the pool comprised of manufacturer subsidized loans, down from 9.9% in Ally's prior CARAT deal in July 2016.
October 22 -
With online retailers beginning to challenge the dominance of brick-and-mortar grocery stores, CRE loans to strip mails anchored by them look riskier.
October 20 -
Four new CLOs have been priced in the last week inside of 120 basis points over Libor, a rarely breached floor for most of 2017.
October 20 -
While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place.
October 19 -
The IACPM's quarterly survey indicates an even split among credit portfolio managers on North American credit spreads in both investment-grade and high-yield assets.
October 19 -
Federal regulators’ 2013 guidance on leveraged lending should have been treated as a rule under the Congressional Review Act – and is now eligible for Congress to repeal, the Government Accountability Office said Thursday.
October 19
















