Securitization

Stack Infrastructure has raised nearly $1.4B in the ABS market since last year to construct and manage build-to-suit "hyperscale" data centers, reportedly for tech giants like Amazon, Apple, Google and Microsoft.

JPMorgan Chase, which has an $18.4B prime auto-loan portfolio, has not ventured into the securitization market with publicly rated auto-loan collateral since 2006, according to ratings agency reports.

Banks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it risks burning bond investors in the process.

Investors should consider alternatives such as private credit as they search for positive yield in a world of low or negative interest rates, according to asset manager Nuveen LLC.

The 30 loans secured by 146 properties in DBJPM 2020-C9 have lower-than-average loan-to-value ratios than recent bond offerings backed by commercial-mortgage securitizations of multiple properties.

For the second consecutive month, the average extension rate in June for troubled loans due to pandemic-related stresses on borrowers shrank in both prime and subprime loan sectors.

Brookfield Property Partners, in a JV with Qatar's sovereign wealth fund, is securitizing a commercial mortgage for the newly constructed, 70-story tower near New York's revitalized Hudson Yards district.

A pioneer in the commercial mortgage-backed securities market argues the HOPE Act would bail out savvy investors who don't deserve it. Barclays predicts that kind of attitude will make passage difficult.

Seven-year loans make up over 10% of the latest pool of originations from Santander's Chrysler Capital division, nearly a tenfold increase from the prior issuance from the shelf.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

Merit Hill, a Brooklyn real estate investment firm, is sponsoring its first MBS offering secured by 78 self-storage units in 23 states.

The $500 million OneMain Financial Issuance Trust 2020-2 has triple-A senior-note ratings from three agencies, even as the economic upheaval of the coronavirus pandemic has prompted particular concerns about the risks in the lender’s key market of unsecured, subprime consumer loans.

San Francisco-based Theorem is marketing its first-ever securitization of online, unsecured consumer loans culled from the LendingClub origination platform using machine-learning technology.

The collateral pool consists of 59 loans for mostly older garden-style and mid-rise apartment buildings that have undergone recent upgrades and renovation.

The private-equity giant has secured a $900 million single-asset commercial loan to finance its investment in three studios where Netflix and Walt Disney will produce original programming for their streaming services.

The action, affecting 362 tranches totaling $57 billion, is taken a week after Fitch revised the U.S. sovereign rating to negative because of ongoing deterioration in public finances.

The Fed's TALF program to support AAA-rated ABS securities issuance continues to resonate in the prime auto securitization space.

With year-to-date issuance at $51.7 billion, investor demand appears to remain strong despite economic headwinds of the pandemic.

Tesla last week priced its latest auto-lease securitization at signficantly reduced spreads from its last deal—reflecting strong investor demand for TALF-backed securities and an improving outlook for the world's largest battery-electric vehicle (BEV) manufacturer.

In its sixth securitization of 2020, IPFS Corp. is pursuing a $400 million deal backed by a revolving pool of insurance-premium finance loans and secured by the right to receive the unearned premium amounts from the loans.