Glen Fest

The falling rates continue a three-year trend of improving performance across numerous commercial mortgage sectors including multifamily, office and retail.

The $400 million Toorak Mortgage Trust 2020-1 is the largest securitization to date for Toorak, which provides short-term institutional capital for individual and corporate real estate developers.

Exchange traded funds tracking leveraged-loan performance saw sharp declines on Monday, following a Friday leveraged loan index decline that was the steepest in nearly a decade.

The Structured Finance Association has canceled its Canadian industry conference in May, while IMN has called off a CRE CLO confab scheduled in NY this week.

Following four prior securitizations of prime auto-loan originations through its Carvana Auto Receivables Trust (CRVNA), the firm will sponsor its first pool of non-prime retail used auto loans underwritten via its e-commerce platform.

FirstKey Mortgage is sponsoring a rare pooling of manufactured housing loans in a $507.1 million securitization.

CoreVest American Finance and Amherst Financial have each launched new securitizations of single-family rentals, following the pricing Wednesday of the first SFR transaction of the year by Progress Residential.

Nelnet Student Loan Trust 2020-2, arranged by Bank of Montreal, is made up of nearly 50% of formerly delinquent loans that have been cured to current status.

Ample access to cash and debt, along with strong diversification strategies built into investment portfolios, will help asset managers and junk-rated corporate borrowers absorb any near-term substantial economic headwinds, according to Fitch Ratings.

Even with the global-trade wars’ ongoing financial pressure on the U.S. agricultural industry, John Deere Capital Corp. has yet to see serious signs of distress from borrowers who’ve financed farm equipment through the Deere & Co. lending unit.

The properties have a combined broker-price opinion value of $530.7 million, which is a 27.4% increase for the properties in their original respective securitizations in 2015 and 2016.

Veros Credit received an AA rating in its 2018-1 transaction, which featured lower loan-to-value ratios and average account balances in the pool.

ALM 2020 includes a $1.375 billion Class A1 series of notes that have a three-month Libor spread of 108 basis points, well within the average primary AAA spread of 133 basis points over Libor.

Most of the pool is made up of office-property loans, but also includes a sizeable exposure to hotel and retail properties.

The loans were aggregated by JUPS, the deal’s sponsor and an affiliate of Jefferies and Jefferies Asset Funding.

ABS investors who have previously needed only to know an asset was excluded from verboten classes like tobacco, oil and gas or firearms are now pressing for details on how well an investment stacks up in the social and governance factors.

The Elections 2020 panel focused on topics such as the long-shot proposal for a wealth or transaction tax on Wall Street, as well regulatory changes that Sanders or another Democratic candidate's administration could enact affecting housing reform or banking oversight.

At a panel during day two of the Structured Finance Association’s ABS trade show in Las Vegas, guest speakers said a strong consensus is building toward asking lawmakers in upstate New York to enact mandatory “fallback” language for Libor replacement in financial contracts.

DBRS Morningstar and Moody’s Investors Service have assigned preliminary ratings to the Classic RMBS Trust, Series 2020-1 transaction sponsored by Home Trust Co.

Her speaking engagement is the highlight of a deep dive into politics for the second day of the four-day industry confab.