Securitization

The $1.56 billion Towd Point Mortgage Trust 2018-2 also features higher exposure to loans on investment properties, in some cases loans backed by single-family homes in more than one state.

Sean Solis has been a partner at Dechert since 2014, advising collateralized loan obligation managers and arrangers through the hoops on U.S. and European risk-retention regulations.

The online lender was able to lower the credit enhancement (again) on its latest securitization of consumer installment loans, the $221.9 million Avant Loans Funding Trust 2018-A.

Test your knowledge of the secondary mortgage market with this quiz of key industry abbreviations.

Affinity's NREIG unit will become OwnAmeria's preferred insurance provider; landlords who list their portfolios will be able to apply for insurance directly from the trading platform.

The closed-end fund, a major investor in CLO equity. directed resets of four deals that it controls in the first quarter; this helped end a yearlong slide in its weighted average portfolio yield.

Industrywide, car sales were down last year, but there were record purchases of Civics and brisk second-half sales of the redesigned Accord; this is reflected in the model concentrations of HAROT 2018-2.

The commercial real estate lender, which is controlled by Canadian and Singapore sovereign wealth funds, included some unusual features in the deal, such as a two-year revolving period.

Two of the loans, or 10% of the $730 million of collateral, are secured by buildings that derive considerable income from parking, which Kroll Bond Rating Agency warns can fluctuate.

According to Morgan Stanley, seven of 15 new European CLOs in the pipeline are debut or re-entry deals involving U.S. asset managers.

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.

After originating more than $1 billion in loans outside the ability-to-repay rule's Qualified Mortgage safe harbor last year, Angel Oak is planning to originate at least twice that in 2018.

Trucks and SUVs make up 84.7% of the collateral for $1.58 billion Ford Credit Auto Owner Trust 2018-A, reflecting consumer declining demand for passenger vehicles.

The London interbank offered rate has its faults, but at least it compensates for counterparty risk; not so the benchmark being touted as a replacement.

The credit characteristics of borrowers are similar to those of the insurer's previous transaction in March, with a weighted average FICO of 777, income of $243,738 and liquid reserves of $236,904.

The Dallas-based lender, a unit of the global banking giant Banco Santander, was able to lower credit enhancement on the senior notes to 63.55% from 65.25% on the previous deal in February.

AmeriCredit returns to securitization for the first time since November with a $1.1 billion deal, while Flagship's $223 million deal, its second of 2018, takes a step back in collateral quality.

The senior tranche of Credit Acceptance Auto Loan Trust 2018-2 benefits from initial credit enhancement of 51.61%, up from 49.93% in a February deal; it comes from additional subordination.

Collateral for the mortgage bonds does not include what Moody's Investors Service terms the "improvements," a 42-story building, state-of-the-art digital signage or a 452-room luxury hotel.

Despite the entrance of several large players over the past several years, financing to small-time landlords is still inefficient, executives say.