The $533.1 million collateralized loan obligation portfolio has an unusual capital structure; just two senior tranches will be issued, along with a single subordinated tranche comprising more than one-third of the notional value.
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The deal is the real estate investment trust's seventh of 2017; the collateral was contributed by 135 originators, including Quicken Loans and First Republic Bank.
September 28 -
The amount of commercial and multifamily mortgage debt outstanding ticked up from April through June, yet the balance of loans in commercial mortgage-backed securities continued its decline.
September 27 -
Most of the 181 jets used as collateral were acquired from GE Capital Corp. in 2015; proceeds from prepayments and liquidations can be used to acquire additional aircraft.
September 27 -
The $75 million deal is backed by financing for a variety of property types, including office buildings, manufacturing facilities and hospitals; it was privately placed with TIAA Investments.
September 27 -
Nearly half of the properties are in New York (30.3%), New Jersey (10.4%) or Florida (8.7%), states that require a court to sign off on a foreclosure, a lengthy process that could affect the timing of payments.
September 26
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Ginnie Mae is giving expanded loan buyout authority to certain issuers in order to help them remove loans affected by Hurricanes Irma and Harvey from securitized mortgage pools.
September 26 -
There are four loans with investment grade characteristics that help boost the overall credit metrics of the collateral pool.
September 26 -
The legislation, sponsored by Rep. Andy Barr (R-Ky.) and Rep. David Scott (D-Ga.), is modeled on an exemption that allows sponsors of residential mortgage bonds to avoid holding risk in their deals.
September 25 -
Bank of Nova Scota's third overall deal in its brief auto-loan securitization history will feature $500m in U.S.-dollar denominated bonds.
September 25 -
Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.
September 25 -
The total includes over $78 billion in new transactions; collateralized loan obligations issued post-crisis have lmited exposure to Toys R Us, which filed for bankruptcy last week.
September 25 -
On Friday, the U.S. International Trade Commission voted 4-0 that imported panels are crippling American manufacturers, giving President Trump until January to decide whether to impose tariffs.
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