The monthly total of $5.9 billion in new collateralized loan obligation issuance in August made slight gains over Julys output, but year-to-date issuance remains sharply off 2015s pace.
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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
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Hawksmoor Mortgages 2016-2 plc is a British sterling-pound denominated RMBS with a £1.124 billion pool balance secured by mortgages to residential properties in the UK extended to 12,153 borrowers. Eighty percent were originated by GE's UK home-lending arms that have since sold off portfolios and exited the British mortgage scene.
October 13 -
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Sprint Corp. is borrowing against its most valuable asset the airwaves to buy more time for a turnaround.
October 12
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Subprime borrowers are falling behind on their car loan payments at the highest rate in more than six years, and some bonds backed by these loans are vulnerable to getting downgraded, according to S&P Global Ratings
October 12 -
What the CFPB Constitutionality Ruling Means for banks and other lenders.
October 12
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Navient Corp. is planning its second student-loan securitization in excess of $1 billion this year. The transaction also marks a return to a pool of primarily performing loans through the Federal Family Education Loan Program (FFELP), after two prior transactions consisting entirely of rehab loans that have rebounded from default status.
October 12 -
Fannie Mae has released the details of its pilot sale of reperforming loans.
October 11
