The rating agency in the second quarter upgraded 149 tranches of senior, mezzanine or subordinate notes across 49 CLOs. By comparison, it downgraded just 13 tranches of six CLOs.
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JPMorgan is dipping into its toolbox for a type of financial engineering rarely seen these days: re-remic, or a securitization of real-estate mortgage investment conduits.
September 15 -
Goldman Sachs, Morgan Stanley and Bank of American Merrill Lynch are marketing two CMBS conduits totaling nearly $2 billion, according to rating agency reports.
September 14 -
Morgan Stanley and Barclays Bank are marketing $550 million of bonds backed by a mortgage on Merchandise Mart, a 24-story, four million square foot art deco landmark in downtown Chicago.
September 14 -
Chase Bank, Discover, RBC and Alliance Data Systems Corp. through subsidiary Comenity Bank each received preliminary triple-A ratings for their new card-backed securitizations. The largest of the deals, Chases $1.1 billion Chase Issuance Trust 2016-7 through its ChaseSERIES platform, closed Monday.
September 14
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American Homes 4 Rent (AH4R) has repaid the $342.1 million loan that serves as collateral for its first securitization of single family rental properties.
September 13 -
SoFi Lending Corp. is in the market with another $436.67 million of notes backed by private student loans.
September 13 -
A fintech startup called Point is allowing consumers sell a piece of their home equity to investors, rather than borrowing against the value of their houses.
September 13 -
The $320.2 million securitization deal, dubbed HERO Funding 2016-3, will issue two tranches of class A notes with double-A ratings from both Kroll Bond Rating Agency and DBRS.
September 13 -
The Consumer Finance Protection Bureau has ordered Bridgepoint Education to refund $23.5 million to students it alleges were deceived into taking out private student loans that cost more than advertised.
September 12 -
Over the past year JPMorgan Chase has rapidly expanded its credit card business, in part by attracting new customers with spotty credit histories; But rest assured that the company is only dipping its toe into the pool of subprime borrowers, says Gordon Smith, chief executive of JPMorgan's consumer and community bank
September 12 -
Navitas Credit Corp. is pursuing its third securitization of small and mid-ticket commercial equipment lease and loan receivables in a $202.9 million notes structure.
September 12


