The Latest

LTC Global is one of the market leaders in a "relatively new" esoteric asset class of acquiring and financing insurance commission assets of life and healthcare insurance products, says DBRS.

The real estate investment trust, along with co-borrower Stellar Management, obtained a $675 million mortgage from four banks; they are cashing out $113 million of equity in the process.

The groups applauded a proposal to establish minimum GSE capital requirements, but called for more immediate steps to release the companies from conservatorship.

The original $312 million triple-A notes are being replaced with six separately priced Class A note tranches, including two fixed-rate securities classes

The rental car giant is issuing approximately $213 million each of notes maturing in July 2021 and July 2023 from its revolving master trust, Hertz Vehicle Financing II LP, according to rating agency presale reports.

The concentration of loans with terms of 73-75 months has breached 13%, after ranging from between 10-12% from five previous AART issues since 2016.

The 10-year, fixed-rate term of the $1.75 billion interest-only loan may raise some eyebrows, though the owners still have "implied equity" of $1.7 billion in the 2.2 million square foot property, per Moody's Investors Service.

Risk management and technology systems at the Federal Housing Administration lag decades behind Fannie Mae and Freddie Mac and desperately need to be revamped, according to a top official at HUD.

New securitizations backed by reverse mortgages are now at a low not seen in two years, signaling that higher volumes seen in recent months may be tapering off.

Like the sponsor's February transaction, this one is backed by midsize and larger business jets, a volatile asset class; it amortizes more slowly and has looser restrictions on extending the terms of leases and loans.