Finance

Grow was previously director of MBS and ABS securities; he replaces VIckie Tillman, who retired in December after overseeing the company's expansion into a diversified credit rating agency.

The $525.7 million transaction is backed by stronger collateral than its previous deal, completed in August. But the sponsor still had to increase the credit enhancement on the senior tranche.

For the fifth time since early 2016, American Honda Finance is hedging on oversubscribed demand for its prime-loan receivables-backed notes with a potential upsizing.

The new transaction, the $608 million Business Jet Securities, Series 2018-1, is less than half the size of the $1.48 billion deal pulled in September; it also appears to be less risky, by several measures.

Onex reset a deal, agreeing to a higher coupon on the AAA-rated senior notes, in order to gain a five-year reinvestment period extension; it substantially narrowed spreads on subordinate notes.

With few foreclosed homes left to pick up on the cheap, the biggest landlords are buying, or building, new single-family homes to pad their portfolios; mortgages on these properties could show up as collateral in rental bonds.

Lenders should be encouraged to hold more credit risk in the mortgage market, rather than having it foisted on Fannie and Freddie.

Ares, along with RDA and Park Hotels & Resorts, obtained a $475 million loan from JPMorgan Chase and Wells Fargo; proceeds will refinance a loan securitized in 2014 and return $90 million of equity.

Eliminating the requirement that CLO managers keep skin in the game of deals should boost issuance, but this could result in weaker credit quality of collateral as competition for loans increases.

The online small-business lender is enjoying a payoff from its year-old push to cut costs and tighten underwriting standards. It is also set to announce another lending agreement with a major bank this year, its CEO said Tuesday.

Moody's Investors Service has revised its expectations for cumulative net losses, to 3.75% from 3.5%, because a 2016 transaction is not performing as well as expected.

A new due diligence firm created by a trio of former Clayton Holdings executives wants to shake up a static business model.

The transaction is backed by nearly three times as many Audi, Volkswagen and Skoda as VW's previous UK auto-loan ABS; it also features a longer revolving period.

The $510.2 million transaction, BDS 2018-FL1, is primarily backed by multifamily (47%) and office buildings (42.1%) originated by ROC Debt Strategies Fund II REIT.

There could be a pause in new issuance as CLO managers wait to see if the government will appeal; longer term, the pace will pick up as the playing field is leveled for smaller managers.

Nearly 52% of the pool in the captive-finance company's first 2018 vehicle-lease securitization involves contracts for popular crossover models like the Chevrolet Equinox, the GMC Acadia and Cadillac XT5.

A three-judge panel for the D.C. Circuit Court of Appeals has sided with the LSTA in its lawsuit seeking to reverse rules requiring CLO managers to hold "skin in the game" under Dodd-Frank.

The REIT has obtained a $395 million loan form JPMorgan Chase that is being used to repay existing debt of $378.9 million that was previously securitized in BAML 2014-ASHF.

Players as small as Oxford Lane and as large as the Carlyle Group have money to put to work funding risk retention and investing opportunistically; trends could attract more first-time managers.

The collateral for Navient Private Education Refi 2018-1 is similar to that of Earnest's previous deal, completed in May, but it is rated two notches higher, at, AAA by S&P Global Ratings.