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The government-sponsored enterprises transferred $5.5 billion of credit risk on $174 billion of mortgages in their portfolios during the first quarter.

The sponsors obtained a $500 million mortgage on the office building at the corner of Madison Avenue and 42 Street; proceeds were used to repay debt and fund a $330 million equity distribution.

Nelnet's offering is backed by federally guaranteed loans; Darien Rowayton Bank's is backed by private loans refinancing the debt of borrowers with prestigious degrees and high incomes.

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.

The Michigan company had fewer gains from loan sales. It also reported an increase in noninterest expenses.

Barclays Bank and American Express are offering a combined $1.19 billion of bonds backed by credit card receivables, according to rating agency presale reports.

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.

Rather than working with large-scale investors, Freddie Mac said it will focus on assisting community organizations and local institutions to fund single-family properties for renters with special needs.

Unlike the $15 billion-asset bank’s legacy mortgage bonds, the new offering is backed by loans to borrowers with strong credit and significant equity in their homes.