Asset Securitization Report - May/June 2019

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

Instead the online lender will refer commercial prospects to two partner companies as it seeks to focus on its core personal lending business.

A panel of federal judges determined that Think Finance and an online tribal payday lender must comply with state interest rate and licensing laws.

Kroll has again downgraded the subordinate note classes for Honor Automobile Trust Securitization 2016-1, with total losses expected to build to $7 million to $8 million.

New FHFA Director Mark Calabria isn't just charting a future for Fannie Mae and Freddie Mac, but also fixing problems resulting from the "qualified mortgage" exemption for the GSEs and taking a "deep dive" into problems in the mortgage servicing market.

The increase in investor scrutiny of managers like Värde Partners is building up as more firms are issuing actively managed pools of short-term CRE loans.

After a decade of investing in distressed trust-preferred securities CDOs of small and regional banks, Hildene now sees non-distressed CLO equity as an inviting target.

The $155.7 million secured combo note offering is backed by the full face value of three classes of mezzanine notes plus a majority portion of the residual notes from Oaktree's first CLO of 2019.