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Underwriting league tables for asset-backed securities for the year through April 19, 2018

Issuance volume of asset-backed securities for the year through April 19, 2018

The Tennessee community bank garnered a triple-A from two credit rating agencies for its inaugural securitization this month of loans refinancing the debt of borrowers with advanced degrees and high-paying jobs.

Months after President Trump vowed that Wells Fargo would pay a severe penalty, the CFPB and OCC hit the bank with a $1 billion fine to settle claims it overcharged customers for auto insurance and home loans.

The $340.5 million transaction, GoodGreen 2018-1, is backed by a mix of residential and commercial PACE assets in 42 California counties and 13 Florida counties.

The notes are being issued from a a master trust collateralized by over $1.4 billion in corporate leases originated and serviced by Donlen Corp., which Hertz acquired in 2011.

Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran.

Ron Faris plans to retire as head of Ocwen Financial and pass on his position to former PHH Corp. CEO Glen Messina around the time Ocwen acquires PHH.

Nearly four in five expect spreads to widen this summer, which is not good news for spec-grade U.S. companies that binged on borrowing levels over the last two years.

The $185 million transaction features a higher exposure to borrowers entering bankruptcy than the sponsor's 2016 deal; it's also more seasoned, since it recycles 2014 collateral.