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A few took advantage of deep discounts to scoop up collateral for new deals on the cheap; others swapped out some of their weakest credits for more highly rated loans.
January 15 -
Ford Motor Credit added a one-time seven-year revolving period to its previous open pool of auto loan receivables.
January 11 -
More than 45% of collateral for the $254.4 million CPSART 2019-A are either "preferred," "super alpha” or “alpha plus”; that's up from 42.4% of collateral for the prior deal.
January 10 -
CarMax Superstores' first $1.2B-$1.5B prime loan securitization of 2019 has its lowest concentration to date of passenger vehicles in its nearly 20 years selling notes backed by receivables.
January 10 -
The latest deal from the sponsor's DRIVE platform for deep subprime loans benefits from recent improvements in underwriting; both S&P and Moody's have lowered loss expectations.
January 9 -
Z Capital's $350M CLO can hold up to 50% of its assets in risky triple-C rated assets, giving it a wide cushion to bulk up on the growing supply of single-B loans near the CCC-rating threshold.
January 9 -
The market has not seen a prolonged period of widening spreads since an eight-month period before early 2016, which was the launching point for a nearly two-year run of AAA spread narrowing.
January 8 -
New Residential acquired its latest pool of loans from five servicers, garnering a rare pledge of P&I advances on defaulted mortgages.
January 4 -
The global asset manager is sponsoring its first post-crisis CLO in a €409.8 million transaction that priced through Barclays on Monday.
January 3 -
The collateral for GMCAR Trust 2019-1 features a higher weighted average borrower FICO than any prior GM Financial deal; it also sports a lower projected cumulative net losses from Fitch Ratings.
January 3
