Allison Bisbey

The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively.

While the company still relies heavily on sales of solar panels, these purchases are now funded by third-party lenders, rather than in-house.

A bipartisan coalition of AGs and officials representing 25 states sent a letter to Education Secretary Betsy DeVos today urging the department to reject what they said was a campaign to dismantle state oversight of the industry.

The second liens, which accompany CMBS first mortgages, range in size from $500,000 to $5 million, a segment of the market that is not well served by either banks or debt funds.

The company, formerly known as Colony American, completed three previous transactions, the last one in 2016, before rules requiring sponsors to keep “skin in the game” of their deals took effect.

While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place.

Called Structured Agency Credit Risk Securitized Participation Interests, the new securities are backed by mortgage loans, and are not general obligations of the government-sponsored enterprise.

Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.

Many of the prime jumbo loans backing the transaction, JP Morgan 2017-4, were contributed by originators with limited history in that product, according to DBRS.

The transaction, Bellemeade Re 2017-2, appears to be similar to programs that Fannie and Freddie use to offload the risk of losses on residential mortgages they insure to capital markets investors.