Finance

Late payments on both prime and subprime securitized auto loans continued to rise in December, reaching a five-year high according to Fitch Ratings.

Companies whose financials have taken hits due to their holdings of mortgage servicing rights are in for a treat, according to Moody's Investors Service.

Intermediate Capital Managers broke the ice on new CLO deals in Europe this week as it priced a new €400 million portfolio of broadly syndicated loans and high-yield bonds.

Prosper Marketplace, a pioneering online lender that has struggled recently, has hired a former USAA executive as its chief financial officer.

Prop 2017-1, as it is simply designated, is a $411 million ABS comprised of three classes of loans that will finance 63 aircraft that Elix Aviation has on lease to 17 airlines. Elix, majority owned by Oaktree Capital Management, focuses exclusively on the regional turboprop aircraft market.

Redwood Trust is back with its second offering or residential mortgage bonds in less than a month, according to Kroll Bond Rating Agency.

SL Green Realty Corp., a real estate investment trust, is tapping the securitization market to refinance 485 Lexington Avenue, a 32-story office building in midtown, Manhattan.

Alcentra is the third manager in January to seek out a refinancing for one of its European collateralized loan obligation deals, according to a presale report from Standard & Poor’s.

OneMain Holdings has gained a two-notch ratings promotion for its second overall subprime securitization of cash-out refi auto loans.

The Mortgage Bankers Association unveiled a new housing finance reform plan on Tuesday designed to kick-start congressional discussions over what to do with Fannie Mae and Freddie Mac.

The State Board of Regents of the State of Utah plans to issue $418 million of bonds backed by federally guaranteed student loans.

Late payments on securitized commercial mortgages fell modestly in January, bucking the recent trend.

JPMorgan Chase is securitizing its first batch of CHASEseries notes backed by credit card receivables this year in a $900 million single-class series transaction, according to a regulatory filing.

A federal appeals court ruled Monday that the Treasury Department will have to hand over more documents to investors of Fannie Mae and Freddie Mac related to its profit sweep of the two government-sponsored enterprises.

Citigroup's decision to leave the mortgage-servicing business by the end of 2018, is part of a long-term strategy to increase returns and sharpen the bank's focus on its core retail customers.

Cerberus Capital Management is marketing its first securitization of re-performing mortgages of the year.

As costs continue to fall, homeowners are increasingly opting to purchase solar photovoltaic systems, rather than allowing a developer to pay for installation and entering into a long-term power purchasing agreement.

Citigroup's plan to sell a $97 billion mortgage servicing portfolio and subservice its remaining accounts highlights the growing prevalence of nondepository servicers and raises questions about how much capacity exists for these institutions to absorb more large deals.

The American Bankers Association has been searching for an online platform to allow its member banks to get into the digital lending business.