It's the second multifamily lender to debut in the CRE-CLO market this year, following Greystone, which completed its first deal in March. Like Greystone's deal, this one has a reinvestment period.
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The portfolio of conforming loans is currently being subserviced by Nationstar Mortgage Holdings on behalf of Seneca Mortgage Investments.
September 7
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Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.
September 7
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The proceeds will be used to repay three existing bonds series, as well as pay down commercial paper and credit line debt of the real estate investment trust, formerly known as Land Securities.
September 7
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The loans, which average 15-year terms, were originated by Vistana and Hyatt Vacation Ownership. Fitch Ratings notes a slight decline in borrower credit quality, and expects a slightly higher default rate.
September 7
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Redwood Trust, long known for targeting only the most pristine borrowers, is preparing its first securitization of residential mortgages with slightly wider credit parameters.
September 6
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The 4,443 single-family rental homes securing Starwood Waypoint Homes 2017-1 have an average age of 30 years, older than any previous transaction by the sponsor, but are bringing in more than $1,700 apiece in monthly rent.
September 6
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The parent company of Dunkin' Donuts and Baskin-Robbins will use $733 million of proceeds to repay debt issued in 2015; the remainder will be used for general corporate purposes, including funding a dividend to shareholders.
September 5
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As housing demand continues to challenge low levels of supply, home prices are overvalued in 34% of the largest U.S. metropolitan areas, according to CoreLogic.
September 5
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S&P says exclusion of the value of "personal contract purchase" balloon payments from Santander's Motor 2017-2 transaction will benefit the deal through excess spread and recoveries from contract defaults.
September 4
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CVC Cordatus Loan Fund IX is CVC's ninth overall Euro-denominated CLO, and only the second that will price since early June, according to Thomson Reuters LPC.
September 1
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The $418m OSCAR US 2017-2 transaction is the 7th securitization of prime auto loans originated by Orient Corp. (or Orico) in Japan and packaged into U.S.-dollar denominated securities.
September 1
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A handful of state regulators are discussing ways to create a single regulatory structure for fintech companies that are seeking regional or national business.
September 1
