Mill City Holdings, which was recently assigned ownership interests in a pair of CarVal Investors’ re-performing mortgage securitizations from 2015, is preparing a third deal involving formerly delinquent and defaulted mortgages. Mill City Mortgage Loan Trust 2016-1 is a transaction of a portfolio of 1,986 distressed or re-performing mortgages.

Nationstar HECM Loan Trust Asset-Backed Notes, Series 2016-3, is a $246.21 million asset-backed notes issuance supported by a $251 million collateral pool of properties tied to reverse mortgages or properties that have become bank-owned assets under the FHA’s HECM (Home Equity Conversion Mortgage) program.

Heathrow Funding, a corporate securitization vehicle that issues bonds raising proceeds for London’s Heathrow Airport and related rail link services, is issuing £400 million (US$520 million) in new notes for the airport to repay upcoming debt maturities.

Bank purchases of Lending Club loans was down 47% in the second quarter from the first, despite higher incentive payments offered by the marketplace lender. Lending Club said that while its loan-purchases program is stabilizing with asset managers and hedge funds, banks have yet to be lured back into the fold.

Online lender Earnest completed its third student-loan securitization in six months, in another oversubscribed offering that raised the finance company’s total issuance to $527 million for 2016. The offering's senior notes were rated 'AA' by DBRS, a bump from the previous single-A ratings of its two prior transactions this year.

Lending Club announced the resignation of its chief financial officer while reporting an $81.4 million quarterly loss due largely to fallout from the scandal that rocked the firm in May.

Morgan Stanley and Citigroup were among a trio of commercial mortgage securitizations with presale reports issued Monday. Morgan Stanley is securitizing a pool of commercial mortgages in a $719.8 million asset-backed structure. Citigroup’s Commercial Mortgage Trust 2016-C2 is a $609.17 million syndicate conduit transaction that includes consortium of large loan properties.

In a report issued Monday, Moody’s stated that “green” building features are becoming an important factor in maintaining property valuations and tenant occupancy levels, and can likely result in higher debt repayment performance of the commercial mortgage through maturity.

Fannie Mae and Freddie Mac could need as much as $126 billion in bailout money from taxpayers in a severe economic downturn, according to stress test results released Monday by their regulator.

A new premier Manhattan office development project – 10 Hudson Yards – has parceled out part of its debut $708 million commercial loan into a commercial mortgage-backed facility of loans through Deutsche Bank and Citigroup. CD 2016-CD1 is a pool of 32 fixed-rate loans secured by 58 commercial properties.

Rules requiring CLO managers to keep skin in the game of their deals has taken a toll on smaller firms. But the resulting thinning of the ranks has created room for some new players that are better capitalized, including insurance companies.