Glen Fest

Tennenbaum is offering up its third middle-market CLO as market conditions ripen for SME loan portfolios

An affiliate managing the loan for the reinsurance giant's investment advisory arm will keep a horizontal equity strip of the deal for dual EU/US risk retention compliance.

The portfolio includes six loans for office, hotel and multfamily properties; the largest is an office park in Austin Texas' high-tech corridor.

The private equity firm obtained an $825 million mortgage on the portfolio from Citi, Deutsche Bank and Barclays; proceeds, along with $500 million of mezzanine debt, will be used to repay exist debt and cash out $207 million of equity.

While leveraged loans may use prime as a fallback, getting unanimous consent from collateralized loan obligation investors to use an alternative benchmark could be a challenge.

A new loan origination platform uses predictive scoring allowing Prosper to expand its risk appetite to more sub-700 FICO borrowers

Lower average FICOs and fewer loans to higher-qualified buyers are among the reasons DBRS has assigned a higher loss level to Westlake's latest transaction.

The 46th overall securitization of court-ordered, term structured-settlement receivables is the company's second deal for 2017.

It's the sponsor's first securitization to be rated by Morningstar; DBRS and Kroll Bond Rating Agency are still capping their ratings of Property Assessed Clean Energy bonds at double-A.

One potential area of concern is commercial real estate; more than two-thirds of respondents in the latest IACPM survey quarter believe defaults will increase in this area over the next year.

Chesapeak Funding II 2017-3 II is only the second transaction Element has launched since merging its fleet securitization platforms earlier this year.

The UK lender has issued eight prior securitizations, but Charter Mortgage Funding 2017-1 is its first that does not include either non-conforming or 'buy-to-let' loans in the collateral.

The percentage of obligors in the $512 million deal with investment grade credit rating has fallen from that of the previous transaction, but credit enhancement is higher.

The senior term tranches to be issued by CarMax Auto Owner Trust 2017-3 have initial credit enhancement of 7.61%, up from 6.85% and 5.45% in its two prior deals.

Progress Residential's lastest pooling of 2,080 rental homes - all secured by a single-borrower mortgage - includes 719 homes rolled over from paid-off SFR securitizations.

BANK 2017-BNK6 is a transaction backed by 72 fixed-rate commercial property loans covering 189 properties, including midtown Manhattan's iconic General Motors Building.

That was an increase of more than $5 billion, or 30%, from May's total, according to Thomson Reuters LPC, though it fell short of refinancing/reset activity, which rebounded to more than $19 billion.

Triumph Capital Advisors doubled its business with a risk-retention driven acquisition of Doral Bank's CLO assets in 2015; the same regs spurred its spin-off as a separately capitalized vehicle to Pine Brook under CEO Gibran Mahmud.

The senior notes benefit from initial credit enhancement of 29.5%, nearly three percentage points higher than the same tranche of the sponsor's previous transaction.

The £310.3 million (US$401.26 million transaction, Twin Bridges 2017-1, is backed by 965 prime mortgages underwritten to UK landlords by Paratus AMC Ltd., formerly known as GMAC-RFC.