Securitization

Collateralized loan obligations in Europe are running low on fuel, prompting some investors to seek greater protection that may slow the market even further.

Ratings agencies have argued recently that the population of loans whose ratings fall below the lowest single-B rating – the lowest rung above the highly speculative triple-C ratings layers – will grow significantly in an economic downturn.

Out of 83 commercial mortgages in the transaction, the collateral pool contains 75 loans secured by multifamily/manufactured housing properties, according to presale reports.

Modifiable and splittable/combinable tranches are part of a new feature emerging in the CLO market which is intended to partially set off the negative impact to holders of CLO debt associated with the call feature.

CBAM Partners announced the hiring away from AXA Investment Managers an executive with significant experience in the CLO and European debt markets to assist in the launch of its European credit strategies business.

Deutsche Bank analysts said the newly downgraded junk status for Ford and its captive-finance subsidiary could mean more dependence on securitization to offset expected higher bank financing costs.

The idea of forgiving student debt has gained traction in the Democratic presidential debates. Undiscussed so far: the significant impact any program could have on the roughly $175 billion of securities backed by student loans.

Managers appear to be increasingly safeguarding portfolios from a potential downturn by dumping distressed assets.

While delinquent loans in commercial mortgage-backed securities continued trending downward overall, there was an uptick in the rate for more recent originations, a Standard & Poor's report noted.

Ally Bank, Capital One Auto Finance and BMW Financial Services of North America launched new note offerings, which will add to the year-to-date of $35.2 billions across 32 prior deals.

Live Well Financial CEO Michael Hild has been charged with misrepresenting the value of a bond portfolio in parallel actions by the U.S. Attorney's Office and the Securities and Exchange Commission.

Gaw Capital Partners and DJM Capital partners are sponsoring $211.3 million large-loan securitization that will include as collateral the famed Hollywood Walk of Fame.

A Silicon Valley mega-office-tower complex that is home to both Amazon and Facebook corporate offices is making another appearance in a conduit commercial mortgage-loan securitization.

The bank started buying more Treasurys and mortgage-backeds over a year ago, long before talk about rate cuts. What did it know that its rivals didn't?

EJF Capital is launching its seventh securitization of subordinated bank debt, via a CDO vehicle that allows smaller banks to raise capital more cheaply and efficiently for regulatory purposes.

Ginnie Mae followed through with plans to look more closely at secured debt ratios in its latest round of new and revised issuer requirements.

The tech-driven asset management firm announced it had closed a $115 million asset-backed securities deal led by Cantor Fitzgerald, with unsecured consumer loans acquired from Prosper Marketplace.

The manager will have four years to actively buy and trade loan assets in THL Credit Lake Shore MM CLO II, compared to two in THL's debut deal from March.

The new $258.4 million NP SPE IX transaction is scheduled to pay off in just seven years, compared to 10 years on NP's last deal in 2017.

Trustees are concerned about obtaining proper consents from legacy residential mortgage-backed securities investors in a timely fashion in order to make the switch from Libor to another index, Fitch Ratings said.