Securitization

Hertz Vehicle Financing II LP, Series 2018-1, is a master trust, and the notes share collateral on a pari passu, or equal basis, with Hertz’ other outstanding series of notes.

A fund controlled by the PE group obtained a $192 million loan from Wells Fargo; proceeds, along with $127 million in subordinate financing, funded the $300 million purchase.

The $401.2 million COLT 2018-1 is the eighth overall securitization of non-qualified jumbo mortgages issued by the Lone Star Funds affiliate.

Initial expectations for cumulative net losses on the $1.15 billion transaction are higher than those of the sponsor's three prior deals, according to credit rating agency reports.

BMW Financial Services is launching its first U.S. auto-loan securitization in two years, while Daimler AG's U.S. captive finance arm is proposing a $1.3 billion to $2 billion pooling of luxury auto leases.

Obvion, a €31.1B-asset lender with a 3.2% market share in the Netherlands, is placing more seasoned loans into its latest five-year revolving pool of prime loans.

The findings by consulting firm Oliver Wyman dispel a misconception that the increase in the use of its credit scores is being driven principally by its free availability to consumers, VantageScore says.

The $165 billion of collateralized loan obligations that were refinanced in 2017 as a whole account for more than one-third of all U.S. CLO assets under management, according to Thomson Reuters LPC.

Tralee CLO IV is a $409.2 million portfolio that immediately more than doubles the assets under management for Par-Four Investment Management.

It’s the second such transaction; in 2016; New Residential completed a $126 million transaction that included some of the same collateral that it acquired from Ocwen. The original deal has since been repaid

Marketplace lenders bringing securitization in-house seized the top spot in 2017; readers also focused on Blackstone's big entry into an esoteric corner of the CRE market and the PACE industry's embrace of consumer protections.

The Dallas consumer lender plans to boost originations again after retooling and taking stock, even as other lenders scale back in the face of rising defaults and delinquencies.

The first issuance on its Finsbury Square platform marks the specialty mortgage originator's seventh securitization since 2010.

Rather than jump right away into lending to car buyers, Access National will start by offering CRE and M&A financing to dealerships.

The first subprime auto ABS deal for 2018 is the 30th overall for Consumer Portfolio Services, with caters to deep subprime borrower pools.

In a rare example of a rating agency calling out a competitor, Fitch Ratings published an unsolicited report on the deal, which was rated by Kroll Bond Rating Agency; this caused some investors to take a closer look.

Limiting the deductibility of interest to a percentage of a taxpayer's income will make securitization uneconomical for auto and equipment rental companies, the Structured Finance Industry Group says.

The $1.24 billion deal is the first GMCAR transaction to be rated by Fitch; it looks a lot like the three deals completed last year, with high FICOs, a high (but declining) concentration of long-term loans, and high concentration of trucks.

The loans used as collateral were originated by a consortium of lenders in The Netherlands: ABN AMRO, ABN AMRO Hypotheken Groep, MoneYou B.V., Oosteroever Hypotheken B.V. and Quion 9 B.V.

Navient and Nelnet avoided downgrades on $19.5 billion of bonds with the help of recent technological innovations; this helped restore investor confidence, allowing them to resume issuance.