Dont expect much of an impact on structured finance next year from the Fed rate hike and its decision to raise rates gradually.
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GM Financials first auto lease securitization of 2016 is a $1 billion transaction that tilts toward higher average customer credit scores and more shorter-term contracts compared to previous GM lease ABS issues.
February 16 -
American International Group is expanding bets on property lending and safe fixed-income securities after hedge-fund investments soured.
February 12 -
Life insurance companies are an untapped source of potential new Federal Home Loan Bank members, according to analysts at Fitch Ratings.
February 12
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The second European collateralized loan obligation of the year is the first ever by U.S. money manager BlackRock.
February 12 -
NewStar Financial is releasing its first CLO since September 2015 with a $350 million portfolio of loans it has originated for small to medium-sized companies.
February 12
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The notes are backed by Hondas typically strong collateral in prime loans with high-quality credit borrowers (average FICO of 761) and lengthy seasoning (13.61 months), and supported by a hard credit enhancement of 2.75%. But the new securitization continues a recent trend in Honda ABS issuance that includes more long-term loans in excess of 60 months.
February 12 -
Issuance volume of asset-backed securities for the year through February 12, 2016.
February 12 -
Underwriting league tables for asset backed securities for the year through February 12, 2016.
February 12 -
Flagship Credit Acceptance and Tidewater Finance Co. are marketing a combined $602 million of securities backed by subprime auto loans, according to rating agency reports.
February 11 -
Nonbank lender Oportun is making its fifth trip to the securitization market with a $124.8 million offering that is backed by fewer loans, but higher balances, than previous deals. Kroll has rated the deal.
February 11 -
Morgan Stanley agreed to pay $3.2 billion to end a joint federal-state investigation into its handling of mortgage-backed securities, the fourth deal to be struck in a probe of the big U.S. banks' role in the subprime mortgage meltdown and the financial crisis it spawned.
February 11 -
Spreads on the companys latest offering of Connecticut Avenue Securities were well wide of levels on the previous deal, completed in October; and that deal, in turn, priced wide of the previous offering in July.
February 11