Finance

Donald Layton, who has run the mortgage giant since 2012, discussed the busy agenda leading up to his departure and says Freddie can serve as a "technical adviser" in GSE reform talks.

The $286.4 million deal is an important test for Upgrade, which has raised $142 million of equity over the past two years but has yet to turn a profit.

The mortgages being reinsured are more seasoned than most other deals rated by Morningstar, which helps offset the risk of lower initial weighed average LTV.

S&P also upgraded five more senior tranches of the deals citing paydowns, which in one CLO was accelerated by the diversion of interest from sub notes.

The $462.3 million VMC 2018-FL2 will be backed by 25 properties, two of which will be acquired after the deal closes.

Fitch Ratings and Moody's Investors Service each rate a single collateralized loan obligations with exposure to debt of the former retail giant.

The rating agency feels that “late-cycle credit behavior” is allowing less established issuers to rely on the securitization market more heavily for funding.

The REIT is purchasing another $500 million of credit risk transfer notes through Fannie's L Street Securities program; this is its first deal rated by Fitch.

The reinvestment period of $457.8 million Palmer Square CLO 2013-2 is being extended for another four years; there are also changes to the capital stack.

Higher-cost loans, less seasoning and rising APRs have pushed average loan balances beyond $28K.

Citigroup spent years reeling in customers with promotional rates, many of which have expired or soon will. The bank thinks it can keep a large number of those customers and make more money off of them.

The senior tranche of Oak Hill European Credit Partners VII has an assumed coupon that is inside of the market average for September.

Refinance loans account for just 21% of the collateral, and even among those borrowers, just under half have advanced degrees.

The collateral for the new notes will revolve over a period of two years; during this time, the notes will pay only interest and no principal.

The fifth SDART deal of the year benefits from the same improvement in credit quality as other recent transactions from the platform.

LCM 28 can pay noteholders across the capital stack based on three-month Libor or "any applicable" alternative - including one-month Libor.

Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.

The transaction's note size is to be determined, but is backed by €750M in lease-backed receivables, compared to €1.5 billion in VW's most recent German lease ABS in May.

The transaction comes six months after Adams said it was in talks about a possible merger with Fairway Outdoors and REIT conversion.

The Oak Brook, Ill.-based manager is adding interest-only notes as well as a subordinate, single-B rated tranche in an extension of a 2016 CLO.