Finance

The average home value backing the loans is $117,000, well below the average $150,000 of other recent RPL securitizations, according to Fitch Ratings.

Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.

The alternative reference rates committee announced in June its recommendation of a broad Treasuries repo financing rate as an eventual replacement for U.S. dollar Libor, which is derived from polling data.

The GMF Floorplan Owner Revolving Trust 2017-3 transaction is the second transaction backed by dealer inventory finance receivables to be issued by the captive lender this month.

More than 20% of the pool is comprised of well-seasoned subprime auto loans previously securitized in American Credit Acceptance's asset-backed deals in 2012-2014.

While the new deal, dubbed OneMain Financial Issuance Trust (OMFIT) 2017-1, is branded as OneMain, the loans were underwritten using Springleaf’s risk scores, which were adopted company-wide in October 2016.

The number of U.S. properties that were equity rich in the second quarter grew by 1.6 million properties from a year ago.

Regulators reached a $183.5 million settlement with the court-appointed receiver of an Oregon private equity firm that could provide debt relief to 41,000 students of the bankrupt Corinthian College

A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.

A joint venture between Nightingale and WCP acquired the property, which is well known for the Claes Oldenburg Clothespin sculpture in its front plaza, for $328 million in July.

Although challenges have accelerated for certain segments of the U.S. retail industry, the exposure to troubled retail in U.S. structured finance sectors is limited, posing small-to-modest risks for some asset classes.

A $507.6 million first mortgage on the Hotel del Coronado, a 130-year-old landmark with 1,400 linear feet of direct ocean frontage, is being securitized in BBCMS 2017-DELC. Barclays is the loan seller.

Boston Properties and the Teachers Insurance and Annuity Association are refinancing the property, which occupies an entire block in the city's media and entertainment district.

The shipping container lease company is marketing $350 million of notes backed by its largest-ever portfolio of dry bulk container lease receivables.

Prestige's $335.2m portfolio is the first of the year for the Utah lender specializing in funding buyers emerging from bankruptcy. Flagship is selling $223m in notes backed by loans to deep subprime customers.

Average FICOs are declining in both lenders' pools, and Nissan Motor Acceptance Corp. is including more borrowers with sub-700 scores in its prime portfolio than in three prior auto-loan securitizations.

The real estate investment trust acquired or aggregated $4.7B in prime jumbo loans in 2016, and has fed the securitization market with six deals this year with a collective pool balance of $2.22B.

GMF's second deal of the year comes as monthly payment rates on dealer financing is declining and more dealers are relegated to its higher-risk credit tiers.

The transaction's pool is a blend of conforming loans from Chase and non-conforming loans from various originators, including EverBank, Social Finance, Quicken Loans and United Shore Financial Services.

Five deals launched in the first week include another whole loan participation in New York's GM Building, as well as a single-borrower ABS for the Park Avenue office tower complex that includes Facebook and Buzzfeed as tenants.