Finance

The subprime lender cited low odds that Washington will deliver further economic relief, and the fact that $1.5 billion of loans whose deferral period expired are now more than 30 days behind.

Trepp research finds that high demand, especially during the COVID-19 outbreak, has rewarded MBS investors' faith in a sector with 'negligible' delinquency rates and healthier leverage levels among operators.

The deal would take the donut chain private and tie it to franchise chains that also regularly issue whole-business securitizations – including Arby's, Sonic Drive In and Jimmy John's – under the Roark Capital-backed Inspire Brands umbrella.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 16-22

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.

Like previous deals, the trust will have a revolving pool of assets for up to two years, in which sponsor Cellco Partnership (doing business as Verizon Wireless) can replace paid-off agreements with new agreements that meet minimum pool standard requirements.

According to ratings agency presale reports, Flagship will sell $303 million in bonds from a $314.8 million of loan originations by Flagship as well as its CarFinance.com subsidiary.

The European Union's first social bond sale, totaling 17 billion euros, was 14 times oversubscribed, meaning the EU could have sold 200 billion euros worth of bonds. That indicates a market that’s structurally underserved.

The private investment firm is securitizing a $265 million loan backed by fee interests in 58 well-performing properties across 12 states.

investors need to remember that speculative-grade companies aren’t immune from going bust, no matter how wide open the debt markets might be.

Pagaya Investments, which purchases loans from MPL platforms using AI-driven technology, is sponsoring a $423.9 million transaction, according to a ratings agency presale report.

Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.

Blackstone Group is sponsoring a $1 billion commercial real estate CLO transaction, backed by a portfolio of pari passu participations in commercial mortgages for primarily lower-grade office, mixed-use and hotel properties.

Moody’s Investors Service sees improved recovery prospects for the U.S. restaurant industry next year, buoyed by projected revenue growth of 15% despite ongoing concerns of the length and impact of the coronavirus pandemic.

Pretium, by taking over Front Yard's 14,000-plus rental properties, will become the second-largest operator of cash-flowing single-family rental housing in the U.S.

While using the 30-day SOFR as its index, Freddie Mac structured the deal so it could shift to a one-month term if and when that rate is approved.

The ratings agency reports that asset-backed securities backed by small-ticket equipment leases and loans is subject to greater volatility from small-business payment deferrals.

This year will top the total volume generated in the housing boom year of 2003. Meanwhile, next year's 30-year FRM is predicted to stay at 2.8%.

Lenders’ loan modifications have temporarily reduced the delinquency rate of loans in CMBS deals for the second month in a row, according to Moody’s Investors Service, but the temporary nature remains cause for concern.

Credit Acceptance Corp. is pursuing its third senior-subordinate auto-loan securitization of 2020, providing investors with bonds backed by risky collateral as well as a long and successful track record issuing asset-backed securities.