Organization Root Tag

Asset-backeds have long benefited from the low interest rate environment, but participants at an industry conference appear to think that the party cannot go on forever.

Senate Democrats' legislative bid to reform the credit reporting industry is tempered and balanced, according to analysts, which could help it gain traction in the GOP-controlled Congress.

RREEF America, the real estate investment unit of Deutsche Asset Management, is securitizing an unusual mix of speculative-grade project finance and corporate in a debut $431.3 million collateralized debt obligation.

There are seven other CMBS issued this year with exposure to the skyscraper at 767 Fifth Avenue. In June, the owners took out a $1.47 billion whole loan that was used to refinance existing debt and pay a dividend; the largest portion was securitized in a single-asset transaction.

The Consumer Financial Protection Bureau issued its first "no-action letter" to an online lender that uses alternative data to determine creditworthiness and loan pricing.

The €684.8 million transaction is backed primarily by new-car leases to German prime borrowers. It's the 21st German securitization by FCE Bank, Ford's UK-based captive finance arm.

The rental car giant is more dependent than ever on asset-backed financing after being downgraded in May, making high yield bond issuance prohibitively expensive.

The transaction, from Together Financial Services, is backed by nearly 4,500 first- and second-lien non-conforming loans, including those for "buy-to-let" and self-employed borrowers.

For the first time, the marketplace lender is using its own balance sheet: It's contributing 27.66% of the collateral. The rest comes from three third-party investors.

Hurricane Irma could potentially affect more private-label mortgage securities collateral than any other recent storm.

The federal savings institution is pooling more than 33,000 well-seasoned auto loans to its armed services-linked membership base.

New issuance of U.S. collateralized loan obligations reached $11.9 billion across 24 deals, taking year-to-date volume past $72.3 billion, according to Thomson Reuters LPC. The eight-month total is higher than the total issuance for all of 2016.

The credit quality of the collateral is lower, by several metrics, than that of Exeter's prior deal; however, S&P Global expects cumulative net losses to be in the same range, from 20.1%-21.1%.

Ford Motor Credit, GM Financial and Fifth Third Bancorp are marketing a combined $3.4 billion in prime auto loan and lease asset-backed securities, according to presale reports published Thursday.

The portfolio of conforming loans is currently being subserviced by Nationstar Mortgage Holdings on behalf of Seneca Mortgage Investments.

The loans, which average 15-year terms, were originated by Vistana and Hyatt Vacation Ownership. Fitch Ratings notes a slight decline in borrower credit quality, and expects a slightly higher default rate.

The 4,443 single-family rental homes securing Starwood Waypoint Homes 2017-1 have an average age of 30 years, older than any previous transaction by the sponsor, but are bringing in more than $1,700 apiece in monthly rent.

The parent company of Dunkin' Donuts and Baskin-Robbins will use $733 million of proceeds to repay debt issued in 2015; the remainder will be used for general corporate purposes, including funding a dividend to shareholders.

As housing demand continues to challenge low levels of supply, home prices are overvalued in 34% of the largest U.S. metropolitan areas, according to CoreLogic.

S&P says exclusion of the value of "personal contract purchase" balloon payments from Santander's Motor 2017-2 transaction will benefit the deal through excess spread and recoveries from contract defaults.