Finance

The agencies handed banks a significant victory when they finalized revisions to the Dodd-Frank proprietary trading ban, but officials also plan to re-propose changes to the “covered funds” section of the rule.

EJF Capital is launching its seventh securitization of subordinated bank debt, via a CDO vehicle that allows smaller banks to raise capital more cheaply and efficiently for regulatory purposes.

Ginnie Mae followed through with plans to look more closely at secured debt ratios in its latest round of new and revised issuer requirements.

Blooma has developed a software product that combs databases to create property profiles for commercial real estate lenders. It can drastically cut origination costs and approval times and help banks identify safer loans, the company says.

The tech-driven asset management firm announced it had closed a $115 million asset-backed securities deal led by Cantor Fitzgerald, with unsecured consumer loans acquired from Prosper Marketplace.

The manager will have four years to actively buy and trade loan assets in THL Credit Lake Shore MM CLO II, compared to two in THL's debut deal from March.

The new $258.4 million NP SPE IX transaction is scheduled to pay off in just seven years, compared to 10 years on NP's last deal in 2017.

Trustees are concerned about obtaining proper consents from legacy residential mortgage-backed securities investors in a timely fashion in order to make the switch from Libor to another index, Fitch Ratings said.

The collaborative workspace officer provider, which filed for its IPO last week, will be securitizing a $240 million loan used in the purchase of the San Francisco building where it leases space to member clients.

Citigroup's global markets realty arm is sponsoring a $362 million securitization of recently originated high-balance, nonagency mortgages, a change of pace from its recent focus on RPL deals.

Lower rates will likely sustain higher levels of origination through at least the third quarter, but supply constraints and economic weakness could limit the purchase market's response in the long term.

Captive finance lenders in recent years have been steadily reliant on used cars for asset-backed collateral. That’s not the case with American Honda Finance Corp.

The $217.7 million BX 2019-MMP Mortgage Trust is a securitization of an interest-only loan issued to Blackstone Real Estate Partners backed by the cash flow from the apartments, in New York’s Upper East Side, Murray Hill and Chelsea neighborhoods.

Of the roughly $250 billion severely derogatory outstanding balance, defaulted student loans make up 35%, a New York Fed report found. That’s a new phenomenon.

The $435.5 million Crown Point CLO 8 is a broadly syndicated collateralized loan obligation that has a “significantly below average” WARF of 2678, indicating a portfolio with a greater share of safer leveraged loans than other CLOs.

The decline in the share of "cured" delinquent loans is a potential signal for increased securitization losses in the months to come.

Nassau Financial Group is following the lead of a Singapore sovereign wealth fund into the fledgling asset-backed securities class of private-equity bonds.

The loans in the deal are for timeshares in the 52-story Elara condo and hotel tower managed by Hilton Resorts Corp.

Lighter seasoning compared to American Credit Acceptance's last loan portfolio issuance is the primary reason, say ratings agencies.

Regional Toyota captive finance lender World Omni has its highest-ever average FICO for a securitization of prime auto-lease receivables. But it also is pooling a portfolio of contracts that have a highly concentrated mix of lease maturities.