The El Segundo, Calif. company is selling $100 million of bonds backed by a revolving pool of loans secured by precious metals as well as some of its own inventory of cash and gold, silver, platinum, and palladium.
Changes that federal regulators are contemplating to the Volcker Rule could pave the way for CLOs to resume investing in high yield bonds, which they currently cannot do without putting themselves off limits to banks.
Although the Consumer Financial Protection Bureau is loosening certain mortgage rules, others such as restrictions on loan officer compensation and state-level regulation will likely persist, according to industry attorneys.
Requiring solar panels for all newly constructed residences is good news for investors who finance these systems, if only because it will help keep developers afloat, according to Moody’s Investors Service.
Lenders should not get so desperate chasing volume by originating lower credit non-qualified mortgage products that they are inviting the next regulatory crackdown, said David Stevens, the Mortgage Bankers Association's CEO.