The Latest

Fannie Mae has appointed Hugh Frater, a member of its board of directors, to serve as its interim chief executive officer after Timothy Mayopoulos steps down next week, the company said in a statement on Monday.

The Oak Brook, Ill.-based manager is adding interest-only notes as well as a subordinate, single-B rated tranche in an extension of a 2016 CLO.

Wyndham Destinations has increased the level of investor protection on its next offering of bonds backed by timeshare loans to offset the slightly weaker collateral.

Wells Fargo is planning its first post-crisis offering of bonds tied to U.S. home loans without government backing, according to people familiar with the matter.

The average exposure is well under the overcollateralization cushions for CLO managers, who also had plenty of notice about ATD's longstanding leverage concerns and supplier issues well before the Chapter 11 filing.

The deal benefits from lower credit enhancement requirements after pooling higher FICOs and more seasoned contracts; but residual values continue to decline for the German automaker.

Consumer Portfolio Services' fourth auto-loan securitization of the year has a 3.97% share of loans previously assigned to CPS asset-backed portfolios, compared to an 11.97% share in its last transaction.

Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending.

DriveTime is making less-risky loans under a $750 million contract purchase agreement with Ally Financial; it appears that the sponsor is also funding some of this lending through its own securitization platform.

The firm's fourth deal of the year has loss projections less than half of its earlier deals, with an influx of aged, pre-crisis option ARM loans with little delinquency history.