Finance

Credit Acceptance Corp. received a subpoena from the Maryland attorney general regarding its repossession and sales policies, the subprime lender disclosed Monday.

Freddie Mac priced its latest offering of notes transferring mortgage credit risk at much narrower spreads than the previous deal, completed in March.

Wells Fargo’s latest commercial mortgage trust deal is a higher-leverage gambit of riskier debt-service coverage and loan-to-value ratios, driven by additional subordinate financing carried by some of the pool’s largest borrowers.

One of the biggest challenges in putting new CLO deals together has been the decline in the number of buyers of CLO debt. Justin Plouffe, managing director of U.S. and European CLOs at The Carlyle Group, discusses the means to which managers must adapt to market direction.

New Jersey is the latest private student lender to test the securitization market.

Credit Acceptance Corp. is marketing $330 million of notes backed by subprime auto loans.

OnDeck Capital reported a quarterly loss of $12.6 million as revenues fell short of expectations. At the same time, the New York firm sharply reduced its earnings projection for the rest of the year

U.S. collateralized loan issuance showed encouraging signs of revving up last week as seven U.S. deals hit the market, bringing the final April tally of transactions to 16.

A federal judge approved Goldman Sachs Group Inc.'s $272 million settlement with investors who claimed the bank misled them about the safety of billions of dollars worth of residential mortgage-backed securities.

Online lender Earnest is marketing its second ever offering of bonds backed by loans used to refinance student debt.

The potentially wide-ranging effects of an appeals court decision in Midland Funding v. Madden could deal a serious blow to preemption under the National Bank Act.

JP Morgan and Deutsche Bank are marketing $893 million of commercial mortgage bonds with unusually heavy exposure to office buildings and hotels, according to Fitch Ratings.

A joint venture involving the captive finance arm of French automaker PSA Peugeot Citroën and Santander Consumer UK is issuing its first UK auto financing securitization since gaining regulatory approval for operations there.

The Consumer Financial Protection Bureau will propose changes in late July to its mortgage disclosure rule to provide "greater certainty and clarity" to the mortgage industry.

STACR Debt Notes Series 2016-DNA2 is a $916 million bonds offering featuring a reference pool of primarily single-family mortgages with an unpaid principal balance of $30 billion.

Taurus 2016-2 Deu DAC has a five-class notes structure, including a triple-A provisionally rated €140 million tranche at the top of the capital stack.

Santander Consumer USA Holding’s second subprime auto loan securitization of 2016 provides a few clues as to why the company announced Wednesday it would be pulling back its originations in the problem-credit space.

Toyota Motor Credit is issuing it second round of securitizing U.S. captive-finance auto loans this year through its Toyota Auto Finance Receivables trust in what could be between a $1.2 billion to $1.6 billion notes offering, according to a federal registration filing Wednesday.

MassMutualAssetFinance is putting more of its business with Uncle Sam into its latest equipment lease and loan securitization package of transportation, federal energy, computers and software contracts.