Credit metrics in a $147.5 million deal deteriorated mildly compared with the lender's previous securitization, but the real issue, according to S&P Global, is a new repossession fee that eats into recoveries.
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The UK lender has issued eight prior securitizations, but Charter Mortgage Funding 2017-1 is its first that does not include either non-conforming or 'buy-to-let' loans in the collateral.
July 13
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The percentage of obligors in the $512 million deal with investment grade credit rating has fallen from that of the previous transaction, but credit enhancement is higher.
July 13
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Both offerings are backed primarily by leases on agricultural equipment, but Kubotah's has a much higher percentage of leases on new equipment.
July 12
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The senior term tranches to be issued by CarMax Auto Owner Trust 2017-3 have initial credit enhancement of 7.61%, up from 6.85% and 5.45% in its two prior deals.
July 12
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Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states.
July 12
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Banco Santander plans to go ahead with a proposal to increase control of its U.S. subprime auto loan unit, after the business passed the Federal Reserve's stress test last month, according to people familiar with the matter.
July 12
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A joint venture between Paramount Group and a wealthy New York family is tapping the commercial mortgage bond market to refinance a 52-story trophy office building in midtown Manhattan.
July 12
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Progress Residential's lastest pooling of 2,080 rental homes - all secured by a single-borrower mortgage - includes 719 homes rolled over from paid-off SFR securitizations.
July 12
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BANK 2017-BNK6 is a transaction backed by 72 fixed-rate commercial property loans covering 189 properties, including midtown Manhattan's iconic General Motors Building.
July 11
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Chinese banks and insurance companies represent a new and potentially large source of capital that could crowd out U.S. banks as investors in collateralized loan obligations.
July 11
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President Trump will nominate Randal Quarles as the Federal Reserve's vice chairman of supervision, the top bank regulatory post at the central bank, according to an announcement by the White House late Monday.
July 10
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That was an increase of more than $5 billion, or 30%, from May's total, according to Thomson Reuters LPC, though it fell short of refinancing/reset activity, which rebounded to more than $19 billion.
July 10
