Steve Eisman, the Neuberger Berman Group fund manager who featured in Michael Lewis's book "The Big Short," said he's concerned about the U.S. subprime-auto market, even though credit quality across the banking system has improved significantly.
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Toyota Motor Credit, DriveTime and AmeriCredit are marketing their second securitizations of 2017; Nissan Motor Credit is selling bonds backed by floorplan receivables; Mercedes-Benz Financial Services Canada i is issuing U.S.-dollar denominated notes.
May 4 -
After more than two days of debate, the House Financial Services Committee on Thursday approved its sweeping Dodd-Frank Act rollback bill.
May 4
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In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures that regulators have deemed "inappropriate."
May 3
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CIBC is planning to issue additional notes backed by credit-card receivables from its CARDS II Trust, according to presale reports from Fitch Ratings, DBRS and Moodys Investors Service.
May 3 -
Late payments on securitized commercial mortgages rose again in April as a large amount of loans matured and borrowers were unable to make a final, balloon payment.
May 3
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Navient and Nelnet, the two largest student loan servicers, avoided downgrades on some $18 billion of bonds by extending their maturities. Getting the required consents from investors would normally take ages, but recent innovations speeded the process.
May 3
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The unexpectedly strong pace of collateralized loan obligation issuance in April has prompted S&P Global Ratings to increase its forecast for the year as a whole.
May 2 -
Fannie Mae and Freddie Mac will continue to pursue opportunities for the government-sponsored enterprises to provide liquidity to the single-family rental market, despite opposition from mortgage and real estate industry group
May 2 -
Velocity Commercial Capital is launching a small-balance commercial mortgage securitization, according to Kroll Bond Rating Agency.
May 2 -
Ocwen Financial Corp. is in talks to sell a nearly 5% stake to its biggest client, New Residential Investment Corp., as part of a deal that would finalize a long-expected sale of mortgage servicing rights.
May 1
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Treasury Secretary Steven Mnuchin on Monday reiterated his goal of tackling housing finance reform within the next year, an aggressive plan for resolving a matter that has long flummoxed Congress.
May 1
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First Key preps its second reperforming RMBS of the year; April CLO count reaches $29.8 billion; Toyota, Nissan file plans for notes backed by auto loans and dealer inventory financing.
May 1
