Finance

Leveraged loan market participants will have to wait a little longer for a big change meant to speed up trade settlement.

Wells Fargo is marketing its second commercial mortgage securitization in two months, this time with a focus on smaller-market retail, hotel and office properties.

OneMain is testing investor appetite for a new kind of subprime auto loan, one that allows borrowers to cash out some of the equity in their vehicles. OneMain, formerly known as Springleaf Financial, is one of the first to securitize a pool of primarily cash-out refinancing auto loans.

Citigroup's next commercial mortgage securitization has heavy exposure to split loans that serve as collateral for a number of other transactions.

Progress Residential is refinancing its first securitization of single-family rental properties.

Sallie Mae Bank is preparing its second private student loan securitization of the year, according to Fitch Ratings.

Banks that stuck with student lending after the financial crisis are finding the business far less risky than it used to be.

Dutch mortgage lender Obvion N.V. is structuring its 34th securitization of residential mortgages through its Purple Storm 2016 B.V trust.

Recently allegations of fraud against Lending Club and several Chinese marketplace lenders have some observers calling for more daylight on the loans sold on these marketplaces. Specifically, they're floating the idea of a technology and service that would register and track ownership of the loans and validate basic facts about them and the borrowers.

Late payments on securitized commercial mortgages moved noticeably higher in June, as several large loans failed to pay off at maturity.

Dell Financial Services is prepping its first equipment-lease securitization of the year, with a transaction that slightly dilutes the concentration of large-enterprise contracts among its obligors.

BMW of North America's owner trust is issuing its first auto-loan securitization in nearly two years, while CarMax is coming out with its second of 2016. Also, Nissan is planning to issue its first dealer floorplan ABS of the year.

New rules designed to stop U.S. companies from moving their tax addresses offshore are so written so broadly that they could disrupt the securitization market, a trade group warned Thursday.

Enterprise Fleet Management is tapping the securitization market for the second time this year.

The Blackstone Group recently got $556.4 million in loans on the 1,047-room Waldorf Astoria Boca Raton Resort & Club, paying off debt it had taken out just three years earlier, cashing out $136.5 of equity in the process.

Sierra Timeshare 2016-2 Receivables Funding is a $300 million, two-tranche notes offering that is secured by more than 14,000 loans through company subsidiaries Wyndham Vacation Resorts and Wyndham Resort Development Corp.

The Federal Housing Finance Agency has opened the door to experimenting with front-end credit risk transfer transactions, but it is not wide enough for some market players.

The mixed-use office/retail complex at 693 Fifth Avenue, which was sold last month by Thor Equities for $525 million, is one of 47 loans backing the $939 million portfolio being issued by the JPMorgan Chase Commercial Mortgage Securities Trust.

World Omni Financial Corp. is making its annual trip to the securitization market with auto leases.