Finance

The $430.2 million PSMC 2020-1 transaction is a pool of 602 large-sized loans with an average loan balance of $715,978, all of which meet CFPB's QM standards.

Apollo and Blackstone are displacing Wall Street amid a growing shift to large-scale direct lending.

Impact investing has long centered on environmental and social purpose, but governance could make huge strides as an ESG consideration in 2020.

Mercedes-Benz, Nissan and Ford will market up to $3.86 billion in new prime auto-lease securitizations, adding to a pipeline that opened up with Hyundai's deal last week.

Fannie Mae is sponsoring a $1.03B CRT transaction, while Caliber Homes Loans, New Residential and Onslow Bay fill the non-QM pipeline

Macro factors point to a solid year in the securitization market but wild cards abound, many of them political.

CarMax Auto Superstores is securitizing a “slightly improved” pool of prime auto loans in its new $1.2 billion loan-backed securitization, according to S&P Global Ratings.

The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.

Hyundai Auto Lease Securitization 2020-A will have a collateral pool with more than a quarter of underlying leases exceeding 43 months – compared to just 19.4% in its previous lease ABS transaction that priced last August.

A New York-based real estate investment firm is financing its acquisition of a portfolio of nationally branded hotels in the commercial mortgage securitization market, via Goldman Sachs.

SoFi Professional Loan Program 2020-A Trust is a $482.3 million bond offering, backed by a pool of approximately $500 million in loans taken out by post-graduate professionals from high-income fields.

The five largest loans in the pool are each $60 million participations in larger whole loans, including a portion of a $1.6 billion loan recently underwritten for the Bellagio Hotel and Casino in Las Vegas.

The older loans have boosted the $260M CPS 2020-A pool seasoning to nine months, compared to CPS’ standard vintage of loans under one month that usually collateralize CPS ABS platform issues.

GMF’s $1.269.9 billion asset-backed transaction will be secured by a pool of loans that has a slightly lower weighted average FICO, higher collective LTV and longer average terms compared to prior deals issued via GMF’s securitization platform.

New securitizations backed by Home Equity Conversion Mortgages fell 14% in 2019 as interest in originating proprietary products increased, according to New View Advisors’ analysis of public and private data.

Bridge REIT LLC is sponsoring a securitization backed mostly by transitional and rehab multifamily properties via Wells Fargo.

The BSL CLO will have two-year noncall and five-year reinvestment periods, and brings Seix' total CLO AUM to $3.8 billion.

Redwood Trust’s next mortgage-backed securitization consists almost entirely of older mortgages it originally sold off, but has since reacquired to assign to its first deal of the new year.

Rising leverage levels and prevalence of cov-lite loans raise concerns despite ongoing macroeconomic growth signs.

As the 2020s begin, perhaps it’s best to borrow a page from the Fed’s 2019 playbook: Take your best shot at forecasting the road ahead, but don’t hesitate to react to important new information.