Finance

Volkswagen Bank said today that it sold two tranches from its Driver Thirteen, German auto loan securitization at the lower end of price talk.

Bank of America Merrill Lynch is marketing €286 million ($331 million) of securities backed by three commercial mortgage loans on 14 office and retail centers located in Italy.

Standard & Poor’s agreed to a one-year suspension from rating commercial mortgage bond conduits and $77 million in fines to settle charges with the Securities and Exchange Commission and two state attorneys general.

Avis Budget Car Rental and American Honda Finance Corp. added $1.6 billion to the pipeline of auto-related asset backed securities Tuesday.

Progress Residential plans to follow up on its debut securitization with a second deal that securitizes a $563.0 million loan secured by 4,028 single-family rental homes.

Invitation Homes is sticking to the same large loan model of past single family rental securitizations in its first deal of 2015.

Volkswagen Bank announced a €717 million ($138 million) auto loan securitization issued under the sponsor’s auto loan receivable program in Germany.

Greg Finck joins Morgan Stanley Investment Management as a managing director.

Final rules requiring sponsors of securitizations to retain “skin in the game” were published in the Federal Register today.

Karen Pallotta has joined Redwood Trust’s Board of Directors, the company announced in a press release today.

Cantor Fitzgerald hired Gary Wang and Karl Partch as managing directors in whole loan sales and trading.

The Russian ruble is in freefall — it’s down more than 50% since January — and interest rates are climbing on the back of the Bank of Russia’s aggressive efforts to shore up the embattled currency.

George Kok is set to join Morgan Stanley as a managing director in the bank’s Commercial Real Estate lending group.

Marketplace lender Social Finance may seek a larger initial public offering than initially planned, according to Chief Executive Mike Cagney.