Over 45% of the borrowers the collateral pool have FICO scores above 760, compared with just 36.42% in the marketplace lender's most recent transaction, completed in May.
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Insurers are seeing modest gains in market share as banks, facing increased scrutiny from regulators, lightly tap the brakes.
August 1
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The portfolio includes six loans for office, hotel and multfamily properties; the largest is an office park in Austin Texas' high-tech corridor.
July 31
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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.
July 31
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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.
July 31
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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.
July 31
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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.
July 30
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A new loan origination platform uses predictive scoring allowing Prosper to expand its risk appetite to more sub-700 FICO borrowers
July 30
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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.
July 30
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Republican efforts to repeal the Consumer Financial Protection Bureau's arbitration rule were dealt a significant blow Friday by another Wells Fargo scandal.
July 28
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Moody's believes that rules grandfathering existing transactions increase the risk that these deals could be left unhedged; it may downgrades some European RMBS and U.S. student loan-backed securities.
July 27
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Lower average FICOs and fewer loans to higher-qualified buyers are among the reasons DBRS has assigned a higher loss level to Westlake's latest transaction.
July 27
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As of March 31, the early-stage delinquency rate was just 2.5% of total all private student loans, according to MeasureOne, up five basis points from the same point in 2016.
July 27
