This week, nine auto loan- and lease-backed deals totaling $7.1-$7.4 billion (including a potential upsizing) took the on-ramp to the securitization market, reversing a slow summer of new issuance.
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Several community lender groups are raising concerns that private mortgage insurance companies could offer volume discounts to attract large lenders, which would place midsize and smaller lenders at a competitive disadvantage.
October 14
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Issuance volume of asset-backed securities for the year through October 14, 2016.
October 14 -
Underwriting league tables for asset-backed securities for the year through October 14, 2016.
October 14 -
Goldman Sachs and Bank of Merrill Lynch, Pierce, Fenner & Smith Incorporated are securitizing a loan with the first lien on a portfolio of Toys R Us and Babies R Us stores, according to rating agency reports.
October 14 -
Mid-market business equipment leasing firms Ascentium Capital and Axis Capital has each launched securitizations of recent contract pools.
October 14
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Insight Wireless Group is issuing another $301.5 million of notes backed by cellular towers, according to Fitch Ratings.
October 14 -
Orange Lake Country Club is marketing $176 million of notes backed by timeshare loans, according to Fitch Ratings.
October 13 -
Traditional banks and marketplace lenders may soon find themselves united in competition against a common threat: Goldman Sachs.
October 13
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Eight prime and subprime auto loan and lease securitizations have arrived in the asset-backed market this week, tallying up approximately $6.72 billion in new deals.
October 13 -
Bayview Asset Management is securitizing $159.6 million of securities that transfer the risk of credit losses on mortgage insured by Fannie Mae and Freddie Mac, according to Fitch Ratings.
October 13 -
In a quarterly survey by the New York-based International Association of Credit Portfolio Managers, 57% of respondents expect wider credit spreads in U.S. investment grade debt and 70% in U.S. high yield bonds and leveraged loans over the final three months of the year. Also for the fourth quarter, 66% see rising levels of corporate defaults.
October 13 -
The Florida Public Service Commission has a beef with Standard & Poors, Moodys Investors Service, and Fitch Ratings, which all characterize bonds backed by utility fees as a kind of structured finance, rather than as corporate bonds.
October 13
