Finance

Issuance of U.S. collateralized loan obligations is likely to get off to a slow start in 2017.

Freddie Mac has moved from transferring the credit risk on newly originated loans to older loans that have been modified in order to avoid default.

Ginnie Mae has revised the wording of the acknowledgment agreements necessary to finance mortgage servicing rights. It sought to resolve a concern warehouse lenders had in the event issuers become troubled.

Prima Capital Advisors has securitized a unusual portfolio of $301.3 million of commercial real estate holdings, according to Moody’s Investors Service.

Moody’s Investors Service has confirmed or downgraded the structured finance ratings on 16 “combo” note CLO tranches this month.

Citizens Financial Group in Providence, R.I., said Tuesday that it expects to start offering digital small-business loans in mid-2017.

Smaller companies that perform residential mortgage servicing are rapidly growing their loan portfolios — and not just in the default servicing space, according to Fitch Ratings.

Last week the European arm of Pinebridge Investments refinanced the Euro-Galaxy III CLO, a collateralized loan obligation originally issued in 2013, to reprice the entire transaction, according to Standard & Poor's.

Next Private Student Loan Securitization Comes from Goal Structured Solutions

Smaller institutions have increased the size of their auto books in the last year, with the 25 most-active lenders reporting a nearly 7% increase. More borrower demand and a pullback by some bigger lenders are contributing to the rise.

It is not a clear-cut statement to say Fannie Mae and Freddie Mac need more capital, and it detracts from the real debate over long-term housing finance reform.

LCM is almost completely overhauling its $465.5 million LCM XIII portfolio in ways beyond just extending its reinvestment period so as to preserve an exemption from forthcoming U.S. risk-retention rules.

SoFi Lending Corp. is testing the market for private student loans to slightly riskier borrowers.

A regulatory 2017 scorecard for Fannie Mae and Freddie Mac calls on the firms to transfer a significant portion of credit risk to third-party private investors on at least 90% of unpaid principal balance of newly acquired single-family mortgages.

Bayview Asset Management is prepping another securitization of mortgages it acquired from CitiFinancial that were once delinquent but are now making timely payments.

Renovate America has priced its fourth securitization this year of Property Assessed Clean Energy (PACE) bonds, in a $292 million deal that capped a near doubling of its investor base since the year began.

A legislative proposal would expand Fannie Mae and Freddie Mac's use of specially-created debt securities to share their risk with private investors, but such risk transfer deals are not a replacement for core capital.

A Brexit-driven rise in the UK’s inflation rate through 2017 would bring a depreciation in the British sterling that could create negative connotations for mortgage, auto loan and other consumer debt securitizations, according to Moody’s Investors Service.

JPMorgan is returning to a familiar structure as it again pools large-market prime jumbo mortgages for investors in collateralized residential mortgage loans.