Finance

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.

Wyndham Destinations has increased the level of investor protection on its next offering of bonds backed by timeshare loans to offset the slightly weaker collateral.

Wells Fargo is planning its first post-crisis offering of bonds tied to U.S. home loans without government backing, according to people familiar with the matter.

The average exposure is well under the overcollateralization cushions for CLO managers, who also had plenty of notice about ATD's longstanding leverage concerns and supplier issues well before the Chapter 11 filing.

Consumer Portfolio Services' fourth auto-loan securitization of the year has a 3.97% share of loans previously assigned to CPS asset-backed portfolios, compared to an 11.97% share in its last transaction.

DriveTime is making less-risky loans under a $750 million contract purchase agreement with Ally Financial; it appears that the sponsor is also funding some of this lending through its own securitization platform.

The firm's fourth deal of the year has loss projections less than half of its earlier deals, with an influx of aged, pre-crisis option ARM loans with little delinquency history.