Finance

The second securitization from the joint venture AGCO Finance is preparing to issue $1 billion in notes backed by payments on retail installment loans and lease contracts on new and used agricultural equipment.

The deal has a more diversified pool than previous ones.

The powersport equipment financing company is hoping to see its first profitable year in 2021.

The residential mortgage-backed securities will offer investors a chance at $300 million in notes highly rated virtually throughout the deal.

Though the government-sponsored enterprises have some of the lowest forbearance rates in the market, they expect to contend with a significant population of borrowers who face steep financial setbacks after the pandemic ends.

OnDeck Asset Securitization Trust III comes to market for its fifth term securitization.

The Mello Warehouse Securitization Trust 2021-2 is preparing a $500 million deal, the latest transaction collateralized by newly originated mortgages that are eligible for purchase by Freddie Mac, Fannie Mae and Ginnie Mae.

Progress Residential 2021-SFR4 is making a huge bet on the continued demand for single-family rental properties.

STWD 2021-FL2 is pricing a $1.27 billion managed commercial real estate commercial loan obligation that allows the issuer to reinvest principal proceeds.

Florida accounts for the largest percent of the initial principal balance on the underlying assets.

Disruptions over the past two years and the portents of the FSOC report make it well worth considering how repo financers should respond when borrowers become distressed.

Wells Fargo has tightened up a few credit characteristics in its latest offering of $826 million in commercial mortgage-backed securities notes.

The pool of pass-through commercial mortgage-backed securities is mostly made up of single-family and multifamily residences.

The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.

Crédito Real targets borrowers with little or no credit history as well as bad credit, who are undocumented or were recently discharged from federal bankruptcies.

Surging used-car prices — brought on by a combination of strong consumer demand and limited new-vehicle supply — are boosting loan yields and profits at the Detroit company.

Deals, trends and research in structured finance and asset-backed securities for the week of April 9-16

Investors are pouring money into bonds backed by U.S. offices, shrugging off concerns about whether workers will ever fill them up like they did before the pandemic.

The $1.28 billion securitization includes a collateral pool with a higher WA FICO, lower LTV and shorter original terms that its previous loan ABS deal issued last October.

Oaktree Re VI 2021-1 will market $531 million in CRT notes that will provide NMI with partial reinsurance on a $45B pool of GSE-eligible loans.