Glen Fest

BMO is part of a trend-setting 2017 parade of Canadian auto lenders pooling their loan, lease and dealer floorplan receivables to the U.S. investor market.

Penta CLO 3 is the first CLO since 2015 for the UK subsidiary of Swiss global asset management Partners Group Holdings AG.

Nissan's second U.S. lease-securitization of 2017 pools more than 71,000 contracts with $1.5 billion outstanding on cars, SUVs and cross-overs. Delinquencies remain low, but residual values are growing volatile.

Ford Motor Credit's second master trust issuance funding its dealer inventory financing has pushed floorplan ABS industry-wide past $8.5 billion, the busiest year for the asset class since 2014.

GM Financial is following similar actions by American Honda, Santander, Fifth Third and USAA to limit Texas exposure in securitizations, but the captive-finance lender has extended the exclusion to Florida loans as well.

The deal, Sunrise SPV 20 S.r.l., is collateralized by more than 120,000 auto, furniture and personal loans originated by the Italian lender.

The deal is the real estate investment trust's seventh of 2017; the collateral was contributed by 135 originators, including Quicken Loans and First Republic Bank.

The $75 million deal is backed by financing for a variety of property types, including office buildings, manufacturing facilities and hospitals; it was privately placed with TIAA Investments.

The legislation, sponsored by Rep. Andy Barr (R-Ky.) and Rep. David Scott (D-Ga.), is modeled on an exemption that allows sponsors of residential mortgage bonds to avoid holding risk in their deals.

Bank of Nova Scota's third overall deal in its brief auto-loan securitization history will feature $500m in U.S.-dollar denominated bonds.

The total includes over $78 billion in new transactions; collateralized loan obligations issued post-crisis have lmited exposure to Toys R Us, which filed for bankruptcy last week.

The latest round of Freddie-backed mortgages for the development, acquisition or rehabilitation or affordable multifamily housing includes 67 properties, with the highest concentration in California.

Credit enhancement for the senior, triple-A-rated notes is in line with recent Honda transactions, but the pool of collateral is concentrated (12%) in Texas and Florida, making it vulnerable to economic disruption from hurricanes.

The San Francisco-based bank's first prime auto loan securitization in two years includes a sizable portion of loans (60% of the pool) with terms exceeding six years.

The growth in securitizations in the esoteric asset class has drawn in more investors seeking long-duration high yield; that, in turn, is spawning more deals from new issuers filling the demand.

CIFC once preferred investing in the equity of other managers' CLOs and selling stakes in its own deals. Risk retention has forced a change in this business model.

Cisco DeVries, the chief executive of Renew Financial, said the bills will bring much-needed stability to Property Assessed Clean Energy, which uses a property assessment to finance upgrades.

Asset-backeds have long benefited from the low interest rate environment, but participants at an industry conference appear to think that the party cannot go on forever.

The upstart firm, owned by private equity firm Eldridge Industries, is issuing its third deal since June; the $1.3 billion offering brings its total issuance for the year to over $4 billion.

MJX CEO Hans Christensen thinks the $500 billion market lacks the heft to influence lawmakers or regulators; he says any relief from rules requiring "skin in the game" of deals will have to benefit other asset classes as well.