The new deal structured by the General Motors Financial Co. subsidiary includes more loans to borrowers with 600-plus FICO scores as well as to those populating the higher end of AmeriCredits internal scoring tables. AMCAR also features slightly fewer loans over 60 months, and a higher weighted average APR.
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Subprime indirect auto lender American Credit Acceptance caters to customers with flawed FICOs that average 543, and continues to extend the vast majority of new and used auto loans beyond five years. But nonetheless, the trust joins the ranks of other issuers with AAA-rated senior notes in its latest securitization of new and used auto and motorcycle loans thouogh a a $211.25 million notes transaction.
November 3
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A new refinance mortgage offered by Social Finance, better known as SoFi, lets consumers tap into their home equity to pay down student loan debt at terms more favorable than a traditional cash-out refi.
November 2
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Late payments on securitized commercial mortgages climbed again in October, as they have for seven of the past eight months.
November 2 -
A first-lien mortgage loan issued for the new State Farm Mutual Insurance regional headquarters building in suburban Dallas, Tex., is being collateralized for a single-property securitization.
November 2
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The Loan Syndications and Trading Association announced Monday that the new so-called delayed compensation standards have resulted well over 90 percent compliance in stricter settlement windows for secondary par trades.
November 2 -
Citigroup Global Commercial Mortgage Trust 2016-3 is a $756.4 million asset-backed pool of 44 fixed-rate loans secured by 72 commercial properties. Forty-four of the properties in the pool are hotels or office, all tied to loans originated within the last five months.
November 2 -
Freddie Mac's credit risk transfers come with a hefty price tag, but are ultimately still worth it, according to Chief Executive Don Layton.
November 1
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Velocity Commercial Capital is marketing its second small balance commercial loan securitization of the year.
November 1 -
KeyBanc Capital Markets, the investment banking arm of Cleveland-based KeyCorp, has expanded its fixed income platform with the addition of a five-person asset-backed team from BB&T Capital Markets.
November 1 -
Morgan Stanley, Wells Fargo and Bank of America are marketing $725.6 million of commercial mortgage bonds designed to meet requirements from regulators on both sides of the Atlantic to keep skin in the game of their deals.
November 1 -
Diamond Resorts is preparing its first offering of bonds backed by timeshare loans in nearly a year, according to Kroll Bond Rating Agency. A lot has happened in the meantime.
October 31
