Legislation that would authorize the use of private flood insurance on Fannie Mae and Freddie Mac mortgages was overwhelmingly approved by the House late last month, but concerns about its potential impact are beginning to crop up.
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The U.S. government's decision to take all profits from Fannie Mae and Freddie Mac was the right thing to do even in light of the companies' subsequent return to profitability, a former Treasury Department official said in documents released this week.
June 23 -
Renovate America, a provider of home energy efficiency improvements financing, is planning a new securitization platform providing additional data into its capital markets transactions.
June 23 -
Bank United in Miami Lakes, Fla., has appointed two former Capital One Financial executives to lead its new equipment and franchise finance subsidiary.
June 23 -
The Canadian subsidiary of CNH Industrial is sponsoring a securitization totaling more than CAN$526 million, backed by agricultural equipment loan receivables.
June 23 -
DFG Investment Advisors has raised a $100 million fund that it will use to satisfy impending regulations enacted as part of the Dodd-Frank Act requiring CLO managers to have skin in the game of their deals.
June 22
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SG Commercial Mortgage Securities Trust 2016-C5 is the first publicly registered asset-backed commercial mortgage offering through the trust since forming its U.S. CMBS business 18 months ago, and closing its first commercial real estate loan in April 2015.
June 22 -
Spruce Finance, a provider of consumer financing for residential solar and home efficiency improvements in the U.S., has hired Darren Thompson as chief financial officer.
June 22 -
Online lender Social Finance, or SoFi, found a ready market for its inaugural rated offering of bonds backed by unsecured consumer loans.
June 22 - Europe
The Shops at Crystals, a Las Vegas luxury shopping mecca of gilded names like Louis Vuitton and Prada, is securitizing a portion of its new commercial mortgage loan in a $300 million trust notes issuance.
June 21
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Navients next student loan securitization is backed entirely by federally guaranteed loans to borrowers who were once in arrears but are now making timely payments.
June 21 -
Bond rating agency DBRS has assigned provisional ratings to an asset-backed vehicle comprised of 1.2 billion of consumer personal and mortgage loans originated by Spanish bank Caixabank.
June 21
