Securitization

The $450 million DT Auto Owner Trust 2019-4 has a pool balance of $519.7 million, an average balance of $17,125 per account and an 84.21% share of loans with terms over 60 months.

According to Kroll, this is the middle-market lender's first securitization of growth-opportunity loans made to venture-capitalized software firms that have yet to develop earnings or substantial assets.

According to presale reports, the fixed-rate loan collateral in Angel Oak Mortgage Trust 2019-5 makes up 77.8% of the new collateral, compared to just 35.5% in Angel Oak’s previous deal that priced in July.

The $50.4 million participation is the largest loan in UBS' next $807.3 million commercial mortgage securitization.

RESIMAC Bastille Trust RESIMAC Series 2019-1NC is an Australian-dollar (AUD) $1 billion transaction (approximately US$674.5 million) that will feature a US$250 million Class A-1 tranche of notes, according to Fitch.

The $5 billion financing package may also include around $1 billion of secured debt that would be sold to investors, as well as about $1.7 billion in letters of credit that would be split among participating banks

The company has rolled out an online platform for firms considering marketplace loans as an asset class.

A year after Fannie Mae launched its first credit-risk transfer securitization using a real estate mortgage investment conduit, Freddie is now electing to also opt for a REMIC format in offloading the credit risk to private investors.

The developer of the newly constructed Washington, D.C., headquarters for Fannie Mae is securitizing part of its $525 million, 10-year mortgage through a single-asset, mortgage-backed transaction.

The end of the qualified mortgage patch should further accelerate non-QM origination growth, but is the mortgage industry ready?

BX Commercial Mortgage Trust 2019-XL, via Citigroup, features 11 note classes backed by a floating-rate, first-lien mortgage on 406 Blackstone-owned properties with a tenant roster of over 2,000 lessees — including Home Depot, UPS, FedEx and Amazon.

The transaction is the first securitization sponsored by the auto finance company since S&P Global downgraded four classes of subordinate notes in prior transactions due to higher-than-expected losses.

Arivo Acceptance, a two-year-old specialty-finance auto lender, is launching its debut securitization of subprime and non-prime loans for new and used cars, trucks and SUVs.

About 10% of the collateral pool consists of prime loans with extended term loans of 78 months excluded from World Omni's prime securitization platform.

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 $460 million BFLD Trust 2019-DPLO will be secured by a two-year mortgage loan that will refinance $401.3 million of existing debt, plus pay $147.5 million of equity.

In the pool of 46,070 vehicles in the $1 billion pool or 59,863 in the $1.3 billion pool, none are equipped with diesel engines that were at the center of Volkswagen’s worldwide emissions scandal in 2015.

Natalya Michaels, recently of Artisan Partners, will be a managing director with a focus on marketing, investor relations as well as expanding the firm's investor and product base.

Fitch Ratings reports the deal is the first post-crisis RMBS securitization it has rated consisting entirely of manufactured-housing loans.

A Philadelphia commercial property developer is refinancing a loan for a renovated complex, according to S&P Global Ratings.