Finance

The U.S. Court of Appeals for the D.C. Circuit will hear oral arguments Tuesday about the Consumer Financial Protection Bureau's structure, in a case that has national implications. Even though a ruling isn't expected until the end of the year, legal experts say there are four major legal issues involved.

The CommonBond Student Loan Trust 2016-A is a $153.2 million, three-tranche notes offering comprised almost entirely of loan refinancings through CommonBond or its partner institution, The Bank of Lake Mills in Watertown , Wis.

Discover Card Master Trust (DCMT) 1 is issuing a pool of $500 Million DiscoverSeries Class A notes (2016-2) and a $250 million Class A notes (2016-3), according to a filing Friday with the Securities and Exchange Commission.

Goldman Sachs Group will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving allegations that loans weren’t properly vetted before being sold to investors as high-quality bonds.

Napier Park Global Capital it preparing to price its first CLO in nearly 18 months through its Regatta platform in a $411 million transaction arranged through Morgan Stanley.

The Revitalization Corp. of the Puerto Rico Electric Power Authority submitted proposed securitization charge-setting mechanisms to the Puerto Rico Energy Commission.

New lender disclosure requirements aren’t just disrupting the market for private-label mortgage bonds; they could also impact the market for bonds that transfer credit risk of mortgages insured by Fannie Mae and Freddie Mac to the private sector.

Ascentium Capital LLC is issuing a new equipment receivables trust that “relevers” the overcollaterization and interest assets of a previous securitization it has sufficiently paid down, according to sources.

Topped by a $355.6 million, triple-A rated Class A notes tranche, the Hertz Fleet Lease Funding (HFLF) LP Series 2016-1 carries similar structures to the previous issue in the 2015-1 version, with the exception of the inclusion of a split floating-/fixed-rate split of Class A notes.

Charlie Hallinan, who pioneered the tactics payday lenders have used for years to stymie state regulators, was indicted Thursday on federal conspiracy and fraud charges.

Consumer Portfolio Services, American Credit Acceptance, Santander Consumer, and CarMax launched four securitizations of subprime loans (CPS and ACA), prime loans (CarMax), and in the case of Santander’s Chrysler Capital, something in between.

N.M. Rothschild and Sons’ Five Arrows Managers LLP has extended the closing date to April 26 for the €307M Contego III trust deal out of The Netherlands.

Bank of Montreal is tapping the U.S. securitization market with a credit card deal for the first time this year, according to Moody’s Investors Service.

As more employers offer student loan repayment assistance to their workers, lenders that specialize in refinancing debt — like Citizens Financial and SoFi — see an opportunity to reel in more customers

Credit market turmoil continued to take a toll on commercial property prices in February, when Moody's/RCA Commercial Property Price Indices national all-property composite index declined for a second consecutive month.

Defaults on commercial mortgage-backed securities declined for the fifth straight year in 2015, according to Fitch Ratings.

Citigroup and Goldman Sachs are marketing commercial mortgage bonds with unusually heavy exposure to hotels, considered to be one of the riskier property types.

LeasePlan Corp. N.V. is preparing its seventh securitization of European commercial vehicle leases, this time through €549.1 million in new notes through its German subsidiary.

Jeremy Ghose, a veteran London-based CLO manager, is unsure the launch of five new Euro-denominated collateralized loan obligations in March is a sign the market is staged for a surge in 2016 – even though one of the new issues was by his own firm.