Sierra Timeshare 2016-2 Receivables Funding is a $300 million, two-tranche notes offering that is secured by more than 14,000 loans through company subsidiaries Wyndham Vacation Resorts and Wyndham Resort Development Corp.
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The first commercial mortgage-backed security to comply with "skin in the game" requirements was extremely well received. Market participants credit the way the large banks sponsoring the deal retained the risk a strategy unavailable to nonbank lenders.
August 19
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Underwriting league tables for asset-backed securities for the year through August 19, 2016.
August 19 -
Issuance volume of asset-backed securities for the year through August 19, 2016.
August 19 -
This year federal and state regulators have started to pay closer attention to the rapidly evolving online-lending sector — particularly online small-business lending. What follows is a look at eight key players in the debate over how to regulate this emerging industry.
August 18
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U.S. Bank Global Corporate Trust Services has hired Joe Nardi to lead its global structured finance group, which provides services that support the mortgage-backed and asset-backed securities for which U.S. Bank is trustee and paying agent.
August 18
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Capital One is returning to the securitization market with $750 million of notes backed by credit card receivables.
August 18 -
Lenders, realtors, and appraisers are stepping up the fight against a particular way of financing the retrofitting of homes to make them more energy efficient.
August 17 -
Macys decision to shutter another 100 of its department stores could impact some $3.64 billion of securitized commercial mortgages, according to Morningstar Credit Ratings.
August 17
- Europe
Europes speculative-grade corporate default rate is expected to rise slightly by next year amid lingering credit instability, slow economic growth and a growing concentration of companies in the lowest levels of junk-grade ratings.
August 17 -
Prosper Marketplace in San Francisco reported a $35 million loss in the second quarter, adding to the struggles of the entire marketplace lending sector
August 17 -
Arch U.S. MI's acquisition of United Guaranty Corp. will make one of the smallest private mortgage insurers the sector's new market leader. While the move is likely to ease pricing competition among the six remaining players, it's not expected to set off a wave of further consolidation.
August 16
