Finance

The specialty aircraft asset management firm, which leases mid- to end-life aircraft to airlines globally, has pieced together a $916 million portfolio of leases to 20 airlines in 17 countries in its third esoteric asset-backed transaction.

Despite efforts by regulators and banks to improve underwriting of commercial leveraged loans, the number of troubled large syndicated credits jumped again this year, according to a report released Friday by federal regulators.

The Federal Housing Administration is promoting a particular kind of financing for residential energy retrofits that another regulator staunchly opposes. Mortgage lenders and investors have qualms, too, about the impact on their standing in collateral claims.

Toyota and Nissan are marketing a combined $2.5 billion of bonds backed by retail auto loans.

AmeriCredit’s third subprime auto loan securitization for the year displays the company’s recent shift toward more new car originations with lengthier terms.

Marriot Vacations Worldwide plans to issue $250 million of notes backed by timeshare loans.

Two Harbors Investment Corp., one of the few regular sponsors of private-label mortgage securitization post-financial crisis, is pulling out of the market.

Wheels Inc., one of the nation’s oldest and largest vehicle fleet lessors, is back in the securitization market after a year’s absence with a pool of corporate lease contracts.

Blue Bridge Financial, a specialty lender that caters to manufacturers, vendors, and distributors of commercial equipment, has obtained a $40 million securitization facility from Sun Life Assurance and Securicor.

Banco Sabadell is pushing out a €1.75 billion (US$1.92 billion) securitization of small business loans through a newly established trust platform.

Bank of America is securitizing a portion of a new $450 million commercial mortgage for the International Square office complex in Washington, D.C., featuring The Federal Reserve and The World Bank as prime tenants.

Freddie Mac has reached a binding commitment with Chimera Investment Corp., a New York-based real estate investment trust, in its pilot structured sale of seasoned loans.

Barclays’ 13th U.S. credit card securitization, and the first for 2016, has taken a shift toward older vintage accounts in its new $609.8 million pool of receivables. Fitch, S&P have issued preliminary ratings to the Class A notes in the capital stack.

As expected, Navient is preparing another $1.0 billion securitization of federally guaranteed loans that were once delinquent but are now making timely payments.

Groupe Banque Populaire, Caisse D’Epargne (BPCE) is pursuing a second securitization from a revolving pool of up to €50 billion in residential mortgage loans held in its two-year-old asset-backed fund.

Online lender Social Finance is planning a second consumer-loan securitization in just over a month with a $480 million notes offering backed by $575 million in prime, high-earner unsecured personal loans.

The subprime auto lender – a unit of the Spanish banking giant Banco Santander – initially planned to release its earnings on Wednesday, July 27. But it said in a news release that its financial statements have "not yet been completed" due to discrepancies between current and former accountants over the way it calculates its provision for credit losses. Santander Consumer did not set a new date for the results.

The official platform of the Republican Party has softened language calling for the end of Fannie Mae and Freddie Mac, while continuing to demand reform.

The unusually strong loan performance in the credit card business lasted longer than many observers expected. But today the industry's prolonged post-crisis era finally appears to be over.