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The captive-finance lender for General Motors is providing lower expectations for the vehicles' future residual values, compared to its prior lease ABS deals, in recognition of the likely severe recessionary impact of the coronavirus outbreak.
June 8 -
Hudson Americas is pooling its next aggregation of non-qualified, high-balance mortgages in a new securitization that is exposed to a large share of borrowers seeking or already receiving pandemic-related forbearance or deferral on payments. So far, a little over half of those granted the allowance have yet to skip any payments.
June 8 -
Fitch Ratings is evaluating all 59 middle-market collateralized loan obligations it rates for potential downgrades, over concerns of the ability of small-business borrowers to support loan payments under COVID-19 stresses.
June 4 -
Credit deterioration is slowing in broadly syndicated CLOs – but a large percentage of deals are still failing certain performance tests under the weight of underlying asset downgrades and lower payment flows from obligors.
June 4 -
“Since April, the decline in corporate credit has resulted in a significant number of downgrades among the assets underlying some CLOs,” a Moody’s press release stated on Wednesday.
June 3 -
The transaction, collateralized by 13,810 loans with a total balance of $349.5 million, is the first for Hilton since August 2019 and follows Wyndham Destinations' $325 million securitization that closed May 1.
June 2 -
Global Lending Services, a subprime auto lender that has ramped down its expansion plans for 2020 amid the coronavirus outbreak, is proceeding with its second auto-loan securitization of the year.
June 2 -
The fixed-rate loans from Earnest involve refinancings to advanced degree professionals who have greater financial means to make payments despite the economic disruption caused by the COVID-19 pandemic.
June 1 -
Exeter, DriveTime and CPS last week joined a small club of subprime auto lenders sponsoring ABS deals since their TALF eligibility was announced.
May 31 -
A new CommonBond private student-loan securitization is expected to generate slightly higher losses than the Goldman Sachs-owned lender’s previous transaction of refinanced loans of professional-degreed borrowers.
May 28
