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The residential mortgages being reinsured are less risky, by several measures, than its previous deal; none of the borrowers have ever missed a payment.
April 11 -
Losses on Conn’s consumer loans are stabilizing, and the electronics and appliance store chain sees an opportunity to reduce the level of credit enhancement for its latest securitization.
April 11 -
The $746.2 million PFP 2019-1's biggest exposure by property type is to multifamily, but the single largest asset is a $71 million portion of a mortgage on a Dallas office building.
April 10 -
The $479 million Progress Residential 2019-SFR2 Trust is backed by 2,459 single-family residences, 2,452 of which were previously securitized in Progress 2016-SFR2.
April 9 -
The senior notes to be issued in the $867 million transaction also amortize more quickly, reducing investor exposure to a potential decline in the valuation of the assets.
April 8 -
The $687 million XAN 2019-RSO7 has 36 months to fund additional lending against properties in the collateral pool, six months longer than a 2018 transaction.
April 5 -
This time, investors required Radian to hold on to the first 2.5% of losses it covers on the pool; by comparison, the insurer’s previous deal, Eagle Re 2018-1, had a lower “attachment” point of 2.25%.
April 3 -
A joint venture between the New York firm, Migdal Insurance and the Arden Group obtained a $311 million mortgage on 1735 Market Street from Deutsche Bank and Goldman Sachs.
April 2 -
The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.
March 31 -
After spinning off its infrastructure-related businesses in November, it is more focused on rail manufacturing and leasing; the new deal is backed by 7% of its fleet.
March 27