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With no more concerns about triggering risk retention on its large pile of older deals, Blackstone is dusting off CLO portfolios that have long been eligible for a refi makeover.

Moody's, S&P and DBRS take divergent views of riskiness of €500 Driver Italia One; key concerns are the concentration of loans with balloon payments and lack of recourse to cars being financed.

However the collateral will total at least £370.4 million (US$424.5 million), including a £62.7 million prefunding account; the weighted average coupon of the collateral is 4%.

The U.S. CLO manager breaks the ice with its first euro-denominated deal, which priced Friday and will close in May when it is about 75% ramped up.

A new settlement with Massachusetts resolves all outstanding administrative actions against Ocwen Financial Corp. by a group of 30 states, but two states' legal actions against the servicer remain outstanding.

There was a modest decline in hurricane-related delinquent mortgages in February, a sign that there are lingering problems in the affected markets.

The €413.5 million BlackRock European CLO V is the fourth euro-denominated CLO to launch this month, and asset manager's first since BlackRock Euro CLO IV priced in November.

The transaction is backed by 6,857 loans with a total balance of $835 million, or roughly 13% of the $6.4 billion of commercial vehicle and equipment loans in Mercedes-Benz Financial Services USA.

The €413 million transaction will issue exchangeable notes for the five senior tranches, allowing regulated U.S. banks the opportunity to invest, even though the portfolio includes bonds.

It's the busiest start to the year, post-financial crisis, for collateralized loan obligations, according to Thomson Reuters, and nearly 60% higher than the pace set in the first two months of 2017.

Moody's thinks that the risk of early lease terminations is "marginal," since only 0.5% of the vehicles in the collateral pool are old enough to be impacted by bans in place in several European cities.

Citigroup plans to launch an online bank that will be marketed nationally. It is one of several large companies with an online bank or niche platform in operation or on the drawing board.

The real estate investment trust obtained a $1.35B mortgage from four banks on a portfolio of 38 properties in the U.S. and pledge of cash and insurance on another 12 in Puerto Rico.

Incenter Mortgage Advisors is putting up for bid a $712.8 million package of government-sponsored enterprise and Ginnie Mae mortgage servicing rights concentrated in the Southeast.

Avoca CLO V was issued only the second default rating of a subordinate global CLO in the last four years, the result of an unpaid subordinate tranche in an early deal liquidation by manager KKR.

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.

GoldenTree's dual-market CLO manager affiliate is launching its first European CLO after debuting with two U.S. deals totaling more than $1.4 billion in 2017.

The transaction is backed by nearly three times as many Audi, Volkswagen and Skoda as VW's previous UK auto-loan ABS; it also features a longer revolving period.

S&P Global Rating's London office made the rare move to downgrade the junior-most notes in a 2016 CLO issued by a Danish credit manager due to a deterioration in portfolio maintenance levels.

Over 94% of the collateral pool consists of diesel-engine vehicles, even though diesel cars have had waning interest among French drivers in the past decade.