The first offering of commercial mortgage bonds to hit the market post-Labor Day comes from JP Morgan Chase, which is securitizing a $900 million portion of a $1.2 billion loan on an iconic Manhattan office building at 9 West 57th Street.
-
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
-
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 -
-
Sprint Corp. is borrowing against its most valuable asset the airwaves to buy more time for a turnaround.
October 12
-
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
-
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 -
Tricon American Homes is prepping its second securitization of single family rental homes, according to rating agency reports.
October 11 -
The single-director structure of the Consumer Financial Protection Bureau represents an unconstitutional concentration of executive power, a federal appeals court said Tuesday. But the court stopped short of disbanding the agency, instead giving the president more power to remove its leader.
October 11 -
Three separate offerings of private loans consolidating the debt of medical students and other recent graduates hit the market last week
October 10
