Finance

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.

Assured Guaranty will pay $160 million to buy out majority shareholder Affiliated Managers Group Inc. and the founders. The insurer will also invest an additional $590 million in the firm and its funds.

Newly promoted partner Timothy Milton is co-portfolio manager for the Vibrant CLO platform, while veteran portfolio manager Eduardo Cabral joins as managing director.

The San Francisco company forecast a modest profit in the third quarter because its cost-cutting plans are ahead of schedule. It's also starting a program to sell riskier loans to sophisticated investors.

The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.

Steeper rate declines contributed to a deeper quarterly net loss at Ocwen Financial, forcing it to extend its timeline for returning to profitability.

A gradual approach would help the market absorb loans affected by the government-sponsored enterprises' expiring qualified mortgage exemption, a Redwood Trust executive told analysts during a recent earnings call.