Payless ShoeSource's closure of 400 stores in the U.S. and Puerto Rico will impact some 36 commercial mortgages, many of them quite small.
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Apollo's MidCap Financial Services Capital Management is marketing its second mid-market CLO of the year in the $1.05 billion Woodmont 2017-2 Trust transaction. Also, 3i is refinancing a 2014 Jamestown CLO deal, and the Vermont Student Assistance Corp. issues is latest series of notes backed by private student loan originations.
May 11 -
Acting Comptroller of the Currency Keith Noreika is floating the possibility of reinterpreting the Volcker Rule, which compelled collateralized loan obligations to divest high yield bonds, or risk losing their biggest customers - U.S. banks.
May 11
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Ally Bank is marketing another $1 billion auto loan securitization, its third of the year.
May 11 -
Federal Housing Finance Agency Director Mel Watt appears poised for a showdown with Congress over how to handle Fannie Mae and Freddie Macs dwindling capital buffers.
May 11
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The Consumer Financial Protection Bureau plans to launch an inquiry into small-business lending, the first step toward crafting a rule for the collection and reporting of small-business lending data.
May 11
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Palmer Square refinances 2013 CLO, cutting spread on AAA-rated tranche to below 100 basis points; Dryden refinances 2014 European CLO: Five Guys cooking up $440M Whole Business securitization.
May 10 -
Commercial truck lessor Automotive Rentals Inc. is sharply reducing exposure to oil & gas exploration clients in its new $575.2 million fleet securitization of specialty vehicle leases.
May 10 -
Palomar Specialty Insurance Co. said Wednesday closed on its first catastrophe bond. The $166 million Torrey Pines Re will provide Palomar with protection against multiple perils over a three-year period.
May 10 -
Fitch Ratings has lowered its outlook on some subordinate tranches of credit card backed notes issued by World Financial Network Credit Card Master Trust, citing rising chargeoffs.
May 9 -
Borrowers have had an uphill battle maintain a class action against student loan servicers; this could change as a result of the Trump administrations efforts to dismantle the CFPB.
May 9
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Social Finances new $530 million consumer loan securitization, its third of the year, is the first to earn a double-A, from both Kroll Bond Rating Agency and S&P Global Ratings.
May 9 -
Fannie Mae and Freddie Mac issued proposals Monday to create pilot programs for loans on mobile homes, part of an ambitious federal effort to find creative solutions for underserved and rural housing markets.
May 9
