The near-prime accounts have less seasoning than many credit card securitizations by UK banks, at 49.9 months, the weighted average annual percentage rate is 38.12%, according to DBRS.
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The Federal Reserve was not an economic buyer; it accumulated its vast holdings of mortgage bonds for policy reasons; Fannie Mae's chief economist, Douglas Duncan, looks at who might step up, and at what yield.
July 27
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The senior tranche of triple-A rated notes to be issued benefits from 38.65% credit enhancement, up over 10 percentage points from 27.25% for the comparable tranche of the sponsor's previous deal.
July 26
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The 46th overall securitization of court-ordered, term structured-settlement receivables is the company's second deal for 2017.
July 26
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The government-sponsored enterprises transferred $5.5 billion of credit risk on $174 billion of mortgages in their portfolios during the first quarter.
July 26
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The sponsors obtained a $500 million mortgage on the office building at the corner of Madison Avenue and 42 Street; proceeds were used to repay debt and fund a $330 million equity distribution.
July 25
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Nelnet's offering is backed by federally guaranteed loans; Darien Rowayton Bank's is backed by private loans refinancing the debt of borrowers with prestigious degrees and high incomes.
July 25
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It's the sponsor's first securitization to be rated by Morningstar; DBRS and Kroll Bond Rating Agency are still capping their ratings of Property Assessed Clean Energy bonds at double-A.
July 25
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The Michigan company had fewer gains from loan sales. It also reported an increase in noninterest expenses.
July 25
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Barclays Bank and American Express are offering a combined $1.19 billion of bonds backed by credit card receivables, according to rating agency presale reports.
July 24 -
One potential area of concern is commercial real estate; more than two-thirds of respondents in the latest IACPM survey quarter believe defaults will increase in this area over the next year.
July 24
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Chesapeak Funding II 2017-3 II is only the second transaction Element has launched since merging its fleet securitization platforms earlier this year.
July 24
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Rather than working with large-scale investors, Freddie Mac said it will focus on assisting community organizations and local institutions to fund single-family properties for renters with special needs.
July 24
