Commercial mortgage securitization may be off to a slow start, but one of the first conduit deals of the year has one of the main hallmarks of 2015: credit barbelling.
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Despite months of concerns over the credit standing for troubled Valeant Pharmaceuticals, the specialty pharmaceutical company remains the single-largest obligor in collateralized loan obligation holdings.
March 16 -
While the $1.9 billion of bonds are not guaranteed by the government, most of the underlying loans could have been sold to Fannie and Freddie, and the transaction accomplishes the same thing as the GSEs' risk-transfer deals.
March 16 -
Issuance of bonds backed by aircraft leases is booming as airlines turn to lessors to fill gaps in their fast-expanding fleets in response to falling energy prices and rising passenger traffic. They are increasingly booking the older, less fuel-efficient airplanes in lessors fleets, which can now be operated profitably.
March 15 -
The Consumer Financial Protection Bureau asked a federal court Tuesday to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.
March 15 -
Wells Fargo is securitizing $712 million in commercial mortgages with heavy exposure to offices and self-storage facilities. The collateral is also less heavily concentrated compared to other CMBS deals covered by Fitch Ratings.
March 15
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Ford Motor Credit is returning with a second securitization of dealer inventory financing in two months
March 15 -
Total commercial and multifamily mortgage debt outstanding increased in the fourth quarter of 2015, according to the Mortgage Bankers Association.
March 15 -
Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.
March 14 -
J.P. Morgan Chase is preparing one of the largest private label mortgage securitizations since the financial crisis. It is backed by a pool of over 6,000 loans totaling nearly $1.9 billion.
March 14 -
Late payments on subprime auto loans packaged into bonds have eclipsed 2009 recessionary levels and are now at a level not seen in nearly two decades, according to Fitch Ratings.
March 14 -
World Omni Financial Corp. and Prestige Financial Services added a combined $1.17 billion of securities backed by auto loans to the new issue pipeline this week.
March 11 -
The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies.
March 11

