Finance

The transaction, Bellemeade Re 2017-2, appears to be similar to programs that Fannie and Freddie use to offload the risk of losses on residential mortgages they insure to capital markets investors.

The latest deal features slightly higher exposure to Florida, where Renew has not been operating as long as it has in California.

Fintech and marketplace lender LendingHome is getting more than $450 million in investment and funding from different channels to help support mortgage production growth and technology improvements.

In a surprise move, the Supreme Court will decide whether Amex may bar merchants from steering customers to less expensive card networks. The card issuer will have to prove the consumer gain from its practices outweighs the merchant pain.

The investment firm recently obtained an $800 million mortgage from Goldman Sachs that was used to refinance $753.1 million of debt on 138 Marriott and Hilton-branded hotels acquired between 2007 and 2015.

More than 90% of the collateral for Ford Credit Canada's CAN$614M transaction is popular light-duty trucks that have propelled the automaker's leading 15.5% domestic market share.

The $369.38 billion offering brings total issuance under the Long Island Power Authority's current authorization to $4.5 billion. It is funded by an additional restructuring charge levied on residential customers.

The $605.5 million transaction is notable for its exposure to turboprops, which are noisy and uncomfortable, but can be more fuel efficient on shorter flights, and to emerging markets.

The bill provides clarity to capital requirements to certain acquisition, development and construction loans are assigned a higher risk weighting under Basel III.

The increase reflects stronger demand from obligors as the performance of this industry improves, rather than a decision by the lessor, according to Fitch Ratings.

JPMorgan Chase reported a rise in value of its mortgage servicing rights despite lower originations in this year's third quarter.

CarMax, BMW, Santander and Credit Acceptance Corp. all launched deals Thursday; they add to the $35 billion in prime auto, $12.31 billion in prime lease, and $19.4 billion in subprime auto loan ABS so far this year.

Moody's notes that the practice masks the actual performance of the equipment lessor's recent securitizations; the rating agency has increased its expectation for cumulative net losses on the latest deal by 25 basis points, to 2.75%.

The allure of promised savings persuaded most Chicago City Council members.

Over 80% of the cars are diesel-engine vehicles, bringing potential volatility to the portfolio cash flows given the public debate over potential panning such cars in several European urban centers.

The deal does not even merit a BBB-plus, according to Fitch, which cites insufficient credit enhancement, exposure to high-risk obligors, and the servicer's lack of experience.

A wave of corporate loan refinancings is putting collateralized loan obligations afoul of a covenant designed to safeguard their own investors.

At $307.5 million, the deal is more than twice the size the sponsor's initial transaction completed in February; it includes a prefunding account, which could introduce drift in the credit quality of the collateral.

The investment arm of Microsoft founder Paul Allen has also committed $100 million of funding to help CleanFund warehouse additional PACE assets that will eventually be securitized.

HPS Investment Partners is adding a new name to one of its legacy Highbridge CLOs, as well as piling on extensive changes to note structure, deal terms and restrictions on some higher-risk assets.