Allison Bisbey

While the sponsor is borrowing more heavily against the 1,283 properties being rolled over, their values have also increased, resulting in a decline in the combined LTV, to 66.5% from 72%.

The latest transaction is the first to include fees associated with the Take 5 Oil Change brand acquired in 2016; they will rank pari passu with outstanding notes issued in 2015 and 2016.

Explosive growth in student lending was putting pressure on the capital ratios of the company, formerly Darien Rowayton Bank; a securitization got a big chunk of servicing strips off its books.

The sponsor has only identified $552 million of collateral for the $610 million deal; it has another four months to put the remaining $88 million to work in additional assets.

Together with $26.4 million of unrated notes that the REIT will retain in order to comply with risk retention rules, the total amount outstanding from the American Tower I master trust will be nearly $1.81 billion.

The majority of the collateral for the $326 million OBX 2018-1 comes from two called Bear Stearns deals originally issued in 2005; the remainder was acquired by the mortgage REIT in the whole-loan market.

DBRS has assigned a BBB rating to a single tranche of certificates issued in what may be the first-ever rated securitization of servicing fees left over after subcontracting payment collections.

The $1.1 billion BENCHMARK 2018-B3 is backed by 45 loans secured by 89 properties contributed by Deutsche Bank (42.8%), JPMorgan Chase (35.3%) and Citibank (21.8%), according to rating agency presale reports.

Medical residents are considered to be good credits but have less free cash flow than fully practicing doctors; the loans did not have a big impact on overall credit metrics of the $900 million deal.

Nonbanks are originating more commercial mortgages on fixer-uppers in response to a sharp drop in the cost of funding in the securitization market. These deals are said to be "vastly different" than other CRE instruments that sustained big losses in the crisis — so far.

The transaction is backed by 6,857 loans with a total balance of $835 million, or roughly 13% of the $6.4 billion of commercial vehicle and equipment loans in Mercedes-Benz Financial Services USA.

Just one year after it got a $1.05 billion loan from a trio of banks (Goldman, BofA and Citi), Blackstone has obtained a new, $1.3 billion loan from two more banks: Barclays and Deutsche.

The security that was incorporated into the index is backed exclusively by loans on green building certified properties; the GSE is still working on acceptance of financing for green upgrades.

As in prior transactions, the company itself contributed only a small portion (7.55%) of the collateral for CLUB 2018-NP1; but this time only three unaffiliated parties were invited to contribute the remainder.

Commercial banks typically compete with CMBS, but this Delaware state chartered bank is securitizing 30 floating-rate loans secured by 35 apartment complexes, retail and office buildings.

The fintech lender's latest offering of $234 million bonds were priced at a 27-basis-point improvement from its previous deal; cheaper funding will allow it to better compete for borrowers in a rising rate environment.

Essent Guaranty is marketing $360.75 million of notes linked to the performance of a pool of residential mortgages that it insures; its following in the footsteps of Arch Capital.

Department of Education Secretary Betsy DeVos says the companies hired by the government to service its own loans should only be subject to federal oversight.

Over 40% of the collateral is from two 2016-vintage transactions that were recently "collapsed" because proceeds from liquidations had slowed. Then there's the exposure to Puerto Rico.

The pool of 41 mid-life aircraft backing Sapphire I has a weighted average age of 12 years and is "largely liquid," according to Fitch Ratings, and there does not appear to be any sort of negative asset selection.