Finance

Toyota Motor Credit Co.'s fourth prime auto loan securitization of the year boosts its volume beyond $6 billion.

Even with advanced seasoning and lighter risk load, the bank's first auto-loan securitization of the year has much higher CE than a weaker 2017 pool.

The London-based manager is including two classes of fixed-rate notes, including a rare triple-A rated nonvariable-rate tranche, in its €412 million Contego VI DAC portfolio.

Starting next year, the servicing giant plans to go after some of SLM Corp.'s best borrowers – at least with refinance student loans.

Turbo Finance 8 is a £375.5M static transaction that includes both hire purchase loan contracts and personal contract purchase, lease-like arrangements.

A "second look" finance partner for retailers like Home Depot and Sears Home Pro is offering $167.3M in bonds secured by receivables on high-interest cards and installment accounts.

The $262.7 million deal has an expected repayment date of 10 years from the first payment date; is also earned a lower credit rating of A- from Kroll.

It has obtained a $259 million commercial mortgage from Goldman Sachs for a portfolio of 39 buildings in Dallas/Fort Worth, Houston and San Antonio.

Invitation Homes 2018-SFR4 recycles collateral from Colony American Homes 2015-SFR1 (53.9%) and Colony Starwood Homes 2016-SFR1 (46.1%).

It seems a lot of CLO managers who were worried about competing amid heavy supply in the fourth quarter have put issuance on hold until 1Q 2019.

Like recent Federal Education Loan Program securitizations from Nelnet and Navient, it has meaningful exposure to rehabbed loans and loans in income-based repayment plans.

The $310.74 million transaction is also the first backed entirely by loans originated by New Penn that Fitch has rated since 2013.

Rating agencies are sparring over a new feature in a private-label RMBS that upends the relationship between senior and sub bondholders.

The credit quality of loans backing the Cailfornia-based lender's $183 million securitization is better than that of its inaugural deal, which was only rated 'A' by Kroll.

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.