Finance

Deutsche Bank is securitizing a $710 million mortgage backed by a portfolio of 155 skilled nursing, assisted and independent living facilities with 18,870 licensed beds, in 20 states.

A recent federal court decision affirming the right of a servicer to collect on private student loans originated on Sallie Mae’s behalf isn’t just good news for investors in student loan-backed securities; it’s also good news for marketplace lending platforms.

A German consumer finance arm of Crédit Agricole is securitizing its third rated pool of unsecured consumer loans in a €1.3 billion (US$1.48 billion) transaction.

CVCRE 2016-6 consists of four super-senior class A notes tranches and three subordinate classes. The senior A notes have a preliminary triple-A rating structured finance rating from Morningstar and Fitch Ratings.

USAA is planning to issue another $280 million of catastrophe bonds through its Residential Re platform.

Lending Club is pivoting back to the strategy it was pursuing prior to the abrupt ouster of its chief executive officer in May.

Engs Commercial Finance, a specialty lender that finances the acquisition of trucks and trailer by small and medium-sized businesses, is making its second trip to the securitization market.

Investcorp is buying the debt management business of 3i Group for £222 million (US$270.6 million, giving the Bahrain-based private equity firm with one of the larger cross-border CLO management operations.

JP Morgan is securitizing a portion of a $557 million loan backed by a portfolio of 103 office buildings and “flex” properties, which have multiple uses, such as office space, manufacturing and warehouse distribution.

A single class of floating-rate Class A notes totaling $896 million is being issued through the Navient Student Loan Trust in the seven-death conducted by Navient this year.

Renewable Funding, a/k/a Renew Financial Group, is structuring its second round of Property Assessed Green Energy (PACE) green bonds this year financing residential renewable energy and energy efficiency projects for California homeowners.

Several banks, including Fifth Third Bancorp and Citizens Financial Group, plan to scale back indirect auto lending, citing increased competition and narrowing spreads. Others are reducing exposure by selling off large chunks of auto loans — though they remain committed to auto lending.

NorthStar Realty Finance and Latitude Management are marketing a pair of commercial real estate collateralized loan obligations.

The rating agency has changed the way it assesses the risk of combo notes, a hybrid debt and equity instrument, to account for what happens to them when a deal is refinanced. This could result in downgrades on existing combo notes issued by 38 collateralized loan obligations. It could also complicate the way future combo notes are structured.

The Apollo Aviation Securitization Equity Trust 2016-2 is supported by the receivables of 35 aircraft leases to 22 airlines in 20 countries, with an initial portfolio value of $792.2 million – which is almost a quarter of the investment management firm’s $3.1 billion in total aviation assets under management.

You can’t pull money out of thin air, but that’s what Sprint Corp. appears to be doing by entering into a sale-and-leaseback agreement for a portfolio of licenses granted by the U.S. government

Earnest is marketing its fourth offering of bonds backed by refinance student loans, according to DBRS.

The number of unbanked households in the U.S. has continued to decline in recent years despite a slowing-down of the economic recovery, the Federal Deposit Insurance Corp. found in itsbiennial survey unbanked and underbanked households.

The debt consolidation loans originated by GE are backed by French homes, in a deal arranged by Morgan Stanley and the second true-sale securitization of debt consolidation receivables. The deal builds on a smaller initial €871.2 million SapphireOne issuance in July.

Santander Consumer may be scaling back its presence in the subprime auto market, but the loans it makes to prime quality borrowers purchasing Chrysler, Jeep and Dodge vehicles are performing so poorly that Fitch now considers them to be “midprime.”