Finance

The company asserted in the statement that S&P’s action was driven more by the distressed trading levels of Serta’s loans in the secondary market rather than the company’s “financially solvent” status.

The state retirement system is looking to dedicate one of every six dollars it manages to direct lending - more than five times the industry average.

Marketplace consumer loan ABS volume is expected to rise in 2020, aided by strong 2019 economic tailwinds benefiting originations as well as favorable federal regulatory proposals that could encourage more securitizations.

Regulators' oversight of the industry's switch to a new interest rate benchmark is expected to intensify as a key deadline approaches.

According to a press release, the securitized loans “primarily” consist of Asia-Pacific and other loans not normally included in the company's rated ABS transactions.

The inaugural securitization for the Los Angeles-based lender will include $34.86 million in Class A notes, with an initial BBB rating from S&P Global Ratings.

The owner of the MacArthur Center Mall in Norfolk, Va., has defaulted on a $750 million loan which includes the property as collateral.

PE firms have made investments in only seven banks in 2019, compared with 21 last year. Here's what's driving the slowdown.

DBRS Morningstar's presale report raises concerns that the securitized loan for Onni Group's Wilshire Courtyard faces considerable risks from the business volatility of its largest tenant.

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter.

The Financial Stability Board's report, released on Thursday, falls short of any lofty expectations to clarify risks within leveraged loans and CLOs. If anything, it may only amplify the paranoia around the asset class.

The $458.87 million HalseyPoint CLO1, via JPMorgan, is the first deal by the firm that was launched in May 2018 by two former Columbia Asset Management portfolio managers.

Fitch may use a new Structured Finance Association framework aimed at prioritizing only riskier TRID errors to assign grades to loans sold into residential mortgage-backed securities, reducing rating-related compliance burdens.

EJF will market $328.9 million in bonds backed by a pool of TruPS, senior notes and surplus notes that have been issued by both rated and unrated community bank institutions and insurance companies.

Freddie Mac launched a groundbreaking multifamily structured pass-through deal that includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate for the first time ever.

Fitch’s list of loans with growing risks of downgrades reached $110 billion in December, up 53% year-to-date.

JPMorgan Chase & Co.’s asset management arm is extending a push into the $787 billion private credit market as cash pours into the asset class from yield-hungry investors.

The 52-story structure designed by postmodern architect Philip Johnson is backing a portion of a loan to Beacon Capital Partners for a cash-out refinancing of existing debt.

Along with an Aaa from Moody's, Nelnet's latest FFELP securitization received an infrequent AAA rating from S&P after providing additional cushion against collateral losses for the senior-most notes.

Blackstone Real Estate Partners is planning a $1.7 billion bond sale secured by a commercial mortgage loan that financed its newly acquired controlling interests in Great Wolf Lodge waterpark entertainment resort properties.