Finance

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 12-18

The newly public digital mortgage giant is relying on a diverse set of loan channels to take on competitors in an increasingly crowded field, CEO Anthony Hsieh said in an earnings call this week.

Ratings agencies describe a "notable" concentration of alternative-income mortgages in the nonforming pool that were underwritten by Ellington-affiliated LendSure.

The Georgia lenders provides financing through a platform available through 16,000 merchants nationwide, including The Home Depot.

Early-stage delinquencies were up slightly in both prime and subprime auto ABS pools, according to the agency's report for January.

WeWork Cos. cut prices across the U.S. in the past few months, indicating that a post-pandemic recovery will come slowly for office rentals.

Neighborly Co., a franchisor of 24 home repair and maintenance service brands, is pledging franchise-fee, royalty and other related revenues from its mostly recession-proof business lines.

Morningstar Credit Ratings LLC let analysts make undisclosed adjustments that resulted in higher ratings of mortgage-backed securities for issuers that paid for the rating, the U.S. Securities and Exchange Commission said in a lawsuit against the rating agency.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

The best mortgage bonds to buy now may be the ones the Federal Reserve is purchasing, because the securities might benefit the most if macro optimism fades.

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 5-11

The deal is similar in size and credit metrics to Caliber’s January private-label deal, albeit with a slightly higher borrower WA FICO (742) and smaller share of dirty-current loans.

The company purchased $1.1 trillion of single-family mortgages and $83 billion of multifamily loans during 2020.

The Japanese lender will back $526 million in U.S. dollar-denominated notes with receivables of domestic new- and used-car loans from domestic borrowers.

Vornado, a publicly traded REIT, and CPPIB have invested over $64.2 million in capital improvements to the historic One Park Avenue building since 2014.

The eight-year-old finance company closed on its fourth overall securitization, in what was its largest ABS bond issuance to date.

The proposed securitization launches the same week the Federal Reserve lifted a three-year-old enforcement action against the auto lender over its prior risk compliance oversight policies.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.29-Feb. 4

The ratings agency says the pool of prime motorcycle loans is slightly weaker than the lender's previous securitization, plus uncertainties remain over how the pandemic might still impact riders' monthly payment performance.

The deal definitively ends a monthslong war of words between the data provider and stakeholders who attempted a hostile takeover.