Finance

A panel of retail industry analysts explored how several department store and specialty retailers face hard times in an environment in which sales declines, high leverage and competition from online retailers are pressuring many brick-and-mortar chains' ability to service their speculative-grade debt obligations.

Appeals court justices appeared divided on whether the structure of the Consumer Financial Protection Bureau is constitutional during oral arguments in the PHH v. CFPB case on Wednesday.

Container Leasing International, d/b/a SeaCube, is adding a $248.7 million deal to this year's fleet of shipping container securitizations.

President Trump’s budget would reduce funds to the Consumer Finance Protection Bureau, cut spending for several programs aimed at providing financial services and resources in underserved communities, and eliminate a fund designed to help regulators unwind a failing megabank.

CLOs are increasingly negotiating with investors for longer reinvestment periods. S&P Global takes a less favorable view of the practice than the other two major rating agencies, Fitch Ratings and Moody’s Investors Service.

Lenders are objecting to the Trump administration's proposed $30 million fee designed to partially fund upgrades to the Federal Housing Administration.

UBS is marketing its first offering of commercial mortgage bonds in four years, so perhaps it’s no surprise that the bank is relying on a third party to take skin in the game of the deal.

Apollo Aviation Group will sell bonds backed by aircraft lease receivables from a $612.2 million transaction representing its fourth overall securitization.

The ability of federal agencies to interpret the Volcker Rule and other provisions of the Dodd-Frank Act could be a positive for advocates of deregulation.

DRI Capital is marketing another $150 million of bonds backed by royalties flowing from pharmaceutical patents on established drugs, according to Kroll Bond Rating Agency.

Bayview Asset Management is marketing yet another $218 million of bonds backed by re-performing mortgages acquired last year from former subprime HELOC lender CitiFinancial Credit Corp., according to rating agency presale reports

Nationstar Mortgage is issuing its seventh securitization of nonperforming reverse mortgages.

BXG Receivables Note Trust 2017-A is a $120.19 million securitization of vacation interval loans originated by timeshare developer Bluegreen Corp. and sister company Bluegreen Properties N.V. The transaction is the first of the year for Bluegreen.

The trend of putting ever-smaller pieces of the same commercial mortgages into multiple securitizations requires investors to be extra careful, and will inevitably make workouts of bad loans more complicated.

JP Morgan Chase is marketing another offering of bonds backed by a mix of conforming and jumbo residential mortgages, according to Moody’s Investors Service.

Subprime lenders are adding $1.74 billion to the auto-loan ABS market this week in a trio of deals marking the second issuance of the year for each.

Hyundai Capital America is marketing its second auto-lease securitization of new Hyundai and Kia vehicles this year, totaling $1.12 billion in bonds. This is the 12th overall lease transaction for Hyundai Capital.

Ford Motor Credit and Mercedes-Benz Financial Services USA launched a pair of dealer floorplan securitizations totaling $1.9 billion Thursday.

State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.

SoFi Lending Corp. is marketing its third securitization of the year of loans refinancing the student debt of high earning professionals, as it continues to accelerate the pace of lending.