Finance

Hertz priced an upsized offering of $500 million of bonds backed by fleet leases, according to a person familiar with the transaction.

California Republic Bank priced $247 million of bonds backed by subprime auto loans, according to a regulatory filing.

The swelling trillion-dollar student loan market is missing key data and regulations necessary to head off another financial crisis, according to Rohit Chopra, the Consumer Financial Protection Bureau’s top official in charge of dealing with student loans.

A consensus of expectations among CMBS investors polled by J.P. Morgan is for new issuance to reach $90 billion in 2014.

CIT Group closed an upsized, $750 million equipment lease securitization.

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.