Finance

L Brands, a global retailer, and certain principals of The Georgetown Co., a property developer, are tapping the securitization market to do a cash-out refinancing of a super-regional retail complex in Columbus Ohio

Late payments on securitized commercial mortgages ticked higher again in July, for the same reason they did in June: a number of large loans fail to pay off at maturity.

New Jersey lawmakers have called a hearing next week to grill the state’s student loan authority about its collection practices and lending terms.

Foundation Finance Co., which underwrites and acquires installment loans issued by third-party home improvement contractors, is launching it’s first-ever collateralization sized at $178.15 million.

Ocwen Financial Corp. is marketing $500 million of notes backed by reimbursement rights to funds it has advanced on residential mortgages that it services.

The rating agency in the second quarter upgraded 149 tranches of senior, mezzanine or subordinate notes across 49 CLOs. By comparison, it downgraded just 13 tranches of six CLOs.

Allen & Overy has added a team of five partners specialized in leveraged financings to its New York office.

Flagship Credit Acceptance’s third subprime auto loan securitization of the year is the company’s first-ever to earn an initial triple-A credit rating.

Lending standards for most business and residential real estate loans as well as subprime consumer loans are tighter than the 10-year average, according to a survey of senior bank loan officers released by the Federal Reserve Board.

Wells Fargo, Bank of America and Morgan Stanley are keeping skin in the first risk retention compliant CMBS.

Standard & Poor’s has assigned a preliminary ‘A’ rating to a €1.5 billion four-year revolving securitization of auto, motorcycle and trailer loans originated by Santander Consumer Bank AG.

The Long Island Power Authority plans to issue another $475.26 million of tax-exempt bonds backed by restructuring charges imposed on its retail electricity customers.

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.