Allison Bisbey

Lauren Hedvat, Angel Oak's managing director of capital markets, said that the rising non-qualified mortgage volume in the market has expanded the number of third-party origination loan packages for purchase.

The $35 million offering of fixed-rate bonds comes from a new mater trust and will be taxable; previously, the state student loan authority has funded refinance loans with the same tax-free bonds used to fund in-school lending.

Bavarian Sky UK 2 plc is as yet unsized; the collateral will initially consist of 70% new and 30% used primarily BWM and MINI vehicles, 56% of which use diesel fuel, according to Moody's Investors Service.

HPS Loan Management 9-2016 will be backed by a $750 million portfolio of broadly syndicated loans and other assets, up from $500 million originally; Moody's is only rating the two senior tranches of notes to be issued.

La Quinta is spinning off a portfolio of 2014 hotels into a real estate investment trust called CorePoint; the REIT obtained a $1.035 billion mortgage from JPMorgan Chase that is being used as collateral for mortgage bonds.

CoreVest American Finance’s next offering of rental bonds is backed by homes that are older and smaller than any of its previous transactions, according to Kroll Bond Rating Agency.

The bank, which purchases loans from Mosaic, is contributing an unspecified amount of collateral for the $317 million deal; it's also the underwriter and risk retention holder, and appears to be behind the unusual structure.

The $470 million transaction has some features rarely seen now that the market for bridge loan securitization has been rehabilitated, including a "blind ramp" and a "blind reinvestment" period.

Adding to the layering of risks, the majority of the loans (84%) originally paid only interest, and no principal, at the time of origination; however, all 506 loans have passed their initial, fixed-rate period, eliminating some potential for reset shock.

The real estate investment trust, along with co-borrower Stellar Management, obtained a $675 million mortgage from four banks; they are cashing out $113 million of equity in the process.