ECMC Group is marketing another $500 million of notes backed by federally guaranteed student loans that were once delinquent but are now making timely payments.

A higher proportion of borrowers have a “spotty pay history,” and the loans are more geographically concentrated than recent deals, but this is somewhat mitigated by higher borrower equity, says Fitch Ratings.

An affiliate managing the loan for the reinsurance giant's investment advisory arm will keep a horizontal equity strip of the deal for dual EU/US risk retention compliance.

Insurers are seeing modest gains in market share as banks, facing increased scrutiny from regulators, lightly tap the brakes.

The portfolio includes six loans for office, hotel and multfamily properties; the largest is an office park in Austin Texas' high-tech corridor.

The transaction, PFS Financing Corp. 2017-B, consists of a $282 million senior tranche provisionally rated triple-A, and an $18 million unrated subordinate tranche. Both tranches have legal, final maturities in July of 2022.

The private equity firm obtained an $825 million mortgage on the portfolio from Citi, Deutsche Bank and Barclays; proceeds, along with $500 million of mezzanine debt, will be used to repay exist debt and cash out $207 million of equity.

The delinquency rate for securitized commercial mortgages, which jumped in June, retreated just as quickly in July, falling 26 basis points to 5.49%. It's now only two basis points above its May level.

While leveraged loans may use prime as a fallback, getting unanimous consent from collateralized loan obligation investors to use an alternative benchmark could be a challenge.

A new loan origination platform uses predictive scoring allowing Prosper to expand its risk appetite to more sub-700 FICO borrowers

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.

Republican efforts to repeal the Consumer Financial Protection Bureau's arbitration rule were dealt a significant blow Friday by another Wells Fargo scandal.