Glen Fest

Both agencies cited the increasingly sunny economic outlook driven by the reach of COVID-19 vaccination efforts.

Crédito Real targets borrowers with little or no credit history as well as bad credit, who are undocumented or were recently discharged from federal bankruptcies.

Deals, trends and research in structured finance and asset-backed securities for the week of April 9-16

The $1.28 billion securitization includes a collateral pool with a higher WA FICO, lower LTV and shorter original terms that its previous loan ABS deal issued last October.

Oaktree Re VI 2021-1 will market $531 million in CRT notes that will provide NMI with partial reinsurance on a $45B pool of GSE-eligible loans.

Fewer obligors with troubled loans improved default exposure for managers of broadly syndicated CLOs, and provided deeper cushions for overcollateralization tests.

The conduit transaction will carry a $120 million portion of a $750 million debt financing package for Facebook's newly built Oculus R&D center near San Francisco.

Also launching deals last week were Santander Consumer USA and DriveTime Automotive Group, according to ratings agency presale reports.

The inaugural securitization includes 447 30-year loans with average balances of $863,206.

The $1.15 billion CarMax Auto Owner Trust 2021-2 could potentially be upsized to $1.56 billion, according to presale reports from Fitch Ratings and S&P Global Ratings. CarMax upsized its first deal of the year that priced in January.

Deals, trends and research in structured finance and asset-backed securities for the week of April 2-8

The FFELP loans carry a minimum 97% guarantee of principal and interest from the U.S. Department of Education.

The two buildings included in the single-borrower transaction were both 94.8% leased as of February 2021.

Horizon Land Co. is securitizing a $488 million single-asset, single-borrower loan that will fund its purchase of 93 rent-site communities in the Midwest and Southwest regions.

Deals, trends and research in structured finance and asset-backed securities for the week of March 26-April 1

The deal will be Ford's 14th securitization from its FordREV shelf, which has eight outstanding deals that remain in their revolving periods.

The compact-tractor manufacturer is supporting its first 2021 securitization with 4.75% CE, after two previous deals were closed with 5.5% enhancement levels to account for potential COVID-19 macroeconomic disruption.

A continuing macroeconomic recovery fueled by the federal government's stimulus payments to consumers has benefited GMF as well.

A white paper released Monday by the Alternative Reference Rates Committee outlined how issuers could (and perhaps should) model new floating-rate transactions using a compounded version of the interbank overnight rate instead of Libor.

The 2021 deal tally is split between $37 billion in new-issue transactions along with $68 billion in refis/resets, according to S&P Global Ratings.