Morningstar

More than $4 billion of collateralized loan obligations on commercial real estate received a modification in the three-month period, compared with about $1 billion in the first quarter

Sunnova Energy in Houston plans to issue $158 million in asset-backed securities (ABS), its second term ABS securitization that relies on investors trusting its solar-loan-origination acumen, rather than its loan history.

GameStop's plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost $42 million, according to Morningstar Credit Ratings.

The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.

The firms jointly announced that Erin Stafford will head the NA commercial mortgaged-backed securities ratings team and Quincy Tang will lead the residential MBS group. Stafford and Tang currently hold similar roles with DBRS.

The large number of overleveraged commercial mortgage-backed securities loans coming due in 2019 is likely to cause the payoff rate to drop an additional 9 percentage points by December, a Morningstar report said.

The investment research firm plans to merge DBRS' ratings business with its existing Morningstar Credit Ratings Service.

Plans to begin rating securitizations backed by fix-and-flip mortgages may help lenders create new capacity and satisfy growing demand for short-term financing of house flipping projects.

CBAM, the leading CLO issuer by volume in 2017, had a shorter non-call for its senior-note stack; Apex has split the AAA paper into three variable-priced tranches.

Grow was previously director of MBS and ABS securities; he replaces VIckie Tillman, who retired in December after overseeing the company's expansion into a diversified credit rating agency.