Finance

In a sign of the interest among U.S. professionals in refinancing their federal student loan debt, start-up lender Social Finance is planning its first loan securitization.

$40.5 million tobacco settlement securitization is in the works, but this one is backed by fees paid to law firms, rather than states that were parties to the 1998 year Master Settlement Agreement

A German auto loan securitization and two dealer floorplan transactions backed by German auto receivables are marketing in Europe this week.

The national mortgage delinquency rate continued its downward trend in the third quarter, dropping to 4.09% compared to 5.33% during the same period a year ago

Capital One is marketing $500 million of bonds backed by credit card receivables, according to ratings agency presale reports.

Citigroup is prepping a conduit commercial mortgage-backed securitization for $867 million.

NXT Capital, a midldle market lender and CLO manager, has expanded its direct originations team by hiring Doug Vitek, John Mills and Daniel Green.

Lloyds Bank will offer a two-year, $750 million tranche in Penarth 2013-1.

Concern is mounting among investors and analysts that Nationstar, Ocwen Financial and Walter Investment are getting so big so quickly that they are becoming too difficult to manage.

Freddie Mac has purchased reinsurance for some of the same exposure to losses on residential mortgages that it has unloaded to investors through issuance of general obligation bonds.

Standard & Poor’s has assigned preliminary ratings to the upcoming deal called Fastnet Securities 9. Morgan Stanley is lead arranger on the deal.

A number (11) of European CLOs issued before the financial crisis are ripe for redemption, and this could free up loans to be used as collateral in new deals, according to Moody’s Investors Service.

Analysts at Bank of America Merrill Lynch see value in "selectively" buying higher mezzanine tranches of asset-backed deals from issuers in the European peripheral countries. They think going down the capital stack in core country deals is a good idea as well.

Arranged by Citigroup, the deal is CNH's third equipment lease securitization this year.

Federal Home Loan Bank members are wary of nondepositories gaining access to district bank securitization programs..

The Carlyle Group said today it has closed a $415 million collateralized loan obligation, its sixth CLO of 2013.

Deutsche Bank priced t the $479 million Invitation Homes 2013-SFR1 REO-to-rental securitization 5 basis points to 35 basis points tighter than initial guidance, a person familiar with the deal confirmed.

The agency raised the B tranche rating to 'AA+' from 'AA' initially and the D tranche to 'BBB+' from 'BBB.' The deal, by First Investors, priced only last week and was upsized to $250m from $206m originally.

The largest tranche, for $327 million, priced at 108 basis points over swaps a bit outside the price talk of 95-100 basis points.