Global distressed debt fund manager King Street Capital Management is issuing its first collateralized debt obligation ever.

Implementation of the second phase of the common securitization platform had been projected for next year, but the anticipated time frame was delayed following "lessons learned" from the first phase.

Fannie Mae has obtained reinsurance for $510 million of credit losses on $20.4 billion of single-family residential mortgages through a pair of credit insurance risk transfer transactions.

GMAC is issuing its eighth asset-backed UK transaction in a £385.8 million (US$481.3 million) bond offering backed by individual and small-business vehicle lease contracts.

The lawsuit against the Commercial Finance Association also names Andrea Petro, the president of the organization, and her employer, Wells Fargo & Co., as defendants, according to the complaint that was filed in in federal court last month.

Fitch Ratings says the auto loan and lease sectors will continue to experience deteriorating credit performance throughout 2017, as defaults accelerate among subprime borrowers and used-car values in decline.

Servicing practices that unnecessarily increase what a borrower owes can contribute to delinquencies. But other misconduct, such as inaccurate credit reporting, can have more insidious effects on a borrower’s financial health.

Signs of growing weakness in the U.S. auto loan market are hurting the bottom line at one of the nation’s largest car lenders.

California is hoping investors will pony up for new bonds backed by the payments it receives under the 1998 Master Settlement with tobacco manufacturers.

Jim Rosenthal, a former chief operating officer at Morgan Stanley, is joining the board of directors at OnDeck Capital.

Presale reports were issued Monday for the $407.35 million Wellfleet CLO 201-1 and the $406.35 million NXT Capital CLO 2017-1; the two deals are the latest of four new offerings noted by ratings agencies since last week and among 14 this month.

In a report published Monday, Fitch Ratings noted that a timeshare loan securitization Marriott completed in 2012 has not experienced a net loss to date -- but only because the company is repurchasing bad loans.