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Investor appetite for deeply subordinated debt is increasing even as the industry starts to consolidate; problems at Honor Finance demonstrate the limits of relying on overcollateralization to offset losses.
September 6
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Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank.
August 23
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Execs at both closed-end funds say expectations for an eventual rise in defaults are driving their strategy to extend reinvestment periods on CLOs in their portfolios.
August 15
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Collateralized loan obligations denominated in pounds sterling were once a tough sell; two recent deals from Barclays and PGIM indicate that this is changing.
September 4
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Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary.
August 20
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Most providers of property assessed clean energy financing shoot for relatively modest credit ratings in the securitization market. But CleanFund wanted to set itself apart.
July 31
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New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.
August 20
