Allison Bisbey

The specialty finance company is contributing all of the collateral for the $259.7 million deal; by comparison, the previous deal included collateral contributed by Goldman Sachs.

The company has filed a request with a federal judge in Pennsylvania for a summary judgment in two counts against it, accusing the bureau of failing to provide evidence.

The sponsor is borrowing against 100% of the $225 million of Property Assessed Clean Energy assets used as collateral for the bonds.

It may not signal a recession, but structured finance pros are still preparing for a more risk-off environment.

That's in contrast with the sponsor's prior deal, completed in December, which tested the waters for mortgage bonds backed exclusively by second liens.

At Ginnie Mae, Michael Bright worked closely with Congress to fight churn in VA mortgages; he plans to bring the same collaborative approach to the Structured Finance Industry Group.

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

S&P sees some potential integration risk that could materially affect the business being reinsured; in November it lowered its issuer credit ratings and financial strength ratings on Aetna.

The $748 million Navient Student Loan Trust 2019-1 looks a lot like the four FFELP deals the sponsor completed in 2018; it is backed by a mix of rehab (19.6%) and non-rehab (80.4%) loans.

David Klass is known for his insights into tax developments in the U.K. related to Brexit; he joins the firm after more than a decade at Gide Loyrette Nouel.

The asset manager obtained a leasehold on floors 28-50 of 620 Eighth Avenue through its purchase of Forest City; the property is now encumbered by $750 million of loans from four banks.

The deal, dubbed Hercules Capital Funding Trust 2019-1, comes just two months after the business development company completed a $200 million transaction.

Most of the properties were previously securitized in various conduit transactions in 2014 and 2015; they are now being bundled into a single transaction that returns $107.7 million of equity to the sponsor.

Loans from the top two originators, loan Depot and TIAA FSB (FKA Everbank), were purchased in bulk based on the respective originator’s guidelines, according to Kroll Bond Rating Agency.

This year saw elation over the rollback of risk retention for CLOs give way to concerns about leveraged lending, the 1st post-crisis downgrade of a subprime auto deal, the 1st AAA for commercial PACE, and much, much more.

The state has expanded the scope of ongoing legal actions against Avant and Marlette to include several securitization trusts and trustees.

The initial offering is just $80 million, but transaction documents allow RFS to issue up to $500 million, as long as certain conditions are met, which could dilute the control and voting rights of the existing noteholders.

AFAH Funding is not your typical CRE CLO: It is backed by entirely by long-dated mezzanine interests in multifamily properties that are eligible for low-income housing tax credits.

The wireless carrier has issued a total of $6.7 billion to year-to-date via four transactions; that's up from $2.65 via two deals in 2017 and a single, $1 billion deal in 2016.

The Property Assessed Clean Energy sector is getting a boost from the expansion of improvements eligible to be financed via tax assessments, including fire resiliency and total building renovations, according to DBRS.