President-elect Donald Trumps pick for Treasury secretary said he did not support a plan known as recap and release for returning Fannie Mae and Freddie Mac to the private sector, clarifying earlier remarks that had caused confusion about the incoming administrations housing finance agenda.
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The industrys reliance on these yardsticks to estimate the riskiness of a pool of borrowers is mathematically flawed.
February 21
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In its continuing effort to shield taxpayers from potential defaults, Freddie Mac is now offering investors exposure to the credit risk of multifamily mortgages that are awaiting securitization.
February 21 -
Kensington Mortgage Co. (KMC) is pooling approximately £343.7 million (US$428.7) in prime-borrower first-lien and buy-to-let investor mortgages in the second UK mortgage-backed securitization being marketed this month.
February 21 -
GSO/Blackstone Debt Funds Management earned the top spot in deal-count of U.S. CLO transactions by registering 28 deals totaling $13.3 billion in 2016, according to a tally of manager activity in the collateralized loan obligation market by Moodys Investors Service.
February 21 -
Increasingly, these transactions are being structured to give lessors more flexibility in terms of both the types of collateral and the ability to actively trade aircraft. As a result, transactions more accurately reflect lesssors fleets
February 19
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Marketplace lender Kabbage is marketing $500 million of bonds backed by small business loans and lines of credit. The transaction, dubbed Kabbage Asset Securitization 2017-1, refinances a $270 million facility it obtained in 2014 that is set to expire.
February 19 -
Ocwen Financial has reached a deal with California authorities to resolve allegations that the mortgage servicing firm -- a frequent target of regulators in recent years -- again violated a range of state and federal laws.
February 19 -
Issuance volume of asset-backed securities for the year through February 17, 2017.
February 18 -
Asset-backed securities that priced in the two weeks ended February 17, 2017.
February 18 -
Canadian banks are increasingly crossing the border to fund their credit card programs, taking advantage of lower borrowing costs available in the much larger U.S. market.
February 17
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New subprime auto securitizations by Santander Consumer USA and American Credit Acceptance each utilize tweaks to recent collateral pool trends to mitigate the risk of growing losses in their managed portfolios.
February 17 -
Ford Motor Credit is marketing another $1.08 billion of bonds backed by prime auto loans.
February 16
