Finance

The DC Circuirt Court's ruling that CLO managers are exempt from skin in the game rules disappointed some investors, who are willing to pay a premium for deals in which their interests are aligned.

Verizon Wireless' sixth overall securitization of device-payment plans includes more subprime borrowers, but delinquencies remain low in its managed portfolio.

Panels account for just 15% to 20% of the total cost of residential installations, so the impact on demand is going to be relatively muted; utility-scale installations will be hit harder.

It has obtained a $1.4 billion mortgage from four banks on a portfolio of 27 buildings that were previously securitized in a 2016 transaction, according to rating agency reports.

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.

So far, consumers have not had much voice in the discussion of a suitable replacement for the benchmark rate; lenders and servicers want to limit any harm, and their liability.

Golub Capital Partners' first CLO of 2018 is pooling small and medium-size enterprise loans into a $903.8 million portfolio, more than twice the size of its previous middle-market CLO.

GoldenTree's dual-market CLO manager affiliate is launching its first European CLO after debuting with two U.S. deals totaling more than $1.4 billion in 2017.

Junson Capital obtained a $179 million first mortgage from Natixis; proceeds, along with $40 million of subordinate debt and $115 million of equity, were used to fund the $334.3 million acquisition.

In January, the closed end fund put $36.6 million to work acquiring the most subordinate securities issued by several CLOs, following the $52.6 million it spent in the fourth quarter.

Financial services groups are calling for more funding for the Internal Revenue Service that could fix flaws in the agency's system for verifying the income of mortgage applicants.

Demand for hotel rooms is running high, and mortgage bond investors are lining up to finance acquisitions and upgrades of even the largest resorts.

The $144 million transaction consists of two classes of notes, compared with a single tranche for the initial deal, which was redeemed early in September 2017; the sponsor can also purchase additional liens on assets in the collateral pool.

The $410 million Ares XXXVIII CLO was the first U.S. collateralized loan obligation to reset, reprice or be issued since Angelo Gordon completed its Northwoods Capital XVI transaction on Feb. 15.

Lender and servicers are increasingly using nontraditional methods such as "hybrid" appraisals and broker price opinions in an attempt to cut costs, but some are more reliable than others.

It's now calling for volume of $110 billion, 10% higher than its previous forecast, based on the view that the repeal of risk retention will spur smaller managers and new managers to enter the market.

As inflation fears put upward pressure on 10-year Treasury bonds and mortgage rates nationally, borrowers could start to take more notice of what lenders are charging them locally.

The No. 5 global shipping container lessor is marketing $250M in bonds backed by $573.2M in marine cargo ship containers. The portfolio has an unusually high concentration of dry containers.

KKR is resetting a 2012-vintage deal for the second time; it now has a reinvestment period of just 1.8 years compared with the more typical four or five years.

Nissan’s deal is backed by loans and will be sized at $1 billion or $1.3 billion, depending on demand. Hyundai Capital’s $1 billion transaction is backed by leases ranging from 24 to 48 months.