Securitization

A large portion of the collateral for both IH 2014-SFR2 and IH 2014-SFR3 is being rolled into a new securitization, IH 2017-SFR2.

New Residential Investment Corp. may seek to accelerate the process of transferring more than $100 billion in mortgage servicing rights it agreed to buy from Ocwen for $400 million.

The delinquency rate for U.S. commercial real estate loans in CMBS is now 5.21%, a decrease of 19 basis points from the September level, according to Trepp. That is the second-largest rate drop measured in the last 19 months.

Initial credit enhancement on the senior notes to be issued has risen to 17.5% from 16.8% for the lender's previous securitization, but the target level is unchanged at 30%.

In addition to insurance premiums, borrowers in the pool use the loans for annual membership fees of sport or leisure facilities or professional bodies.

Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.

The two investment firms recently obtained $1.1 billion in loans from Goldman Sachs and Deutsche Bank to purchase a 48.7% stake in the property from New York REIT, which previously owned 98.8%.

Fitch expects cumulative net losses to reach 15% over the life of the deal ... half that of other RPL issuers.

The Dallas consumer lender says it plans to boost subprime originations again after retooling its portfolio and taking stock of the economy.

Barclays and the Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, according to people with knowledge of the situation.

The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively.

The unwinding and rebuilding of the struggling portfolios of Fifth Street's business development companies could take two to three years, Oaktree management stated in an earnings call Thursday.

The deal, known as Bayview Opportunity Master Fund IVb Trust 2017-RT6, pools 2,745 current loans, of which nearly 58% have been clean for at least two years, and 55.2% have been modified.

Neuberger Berman Loan Advisors CLO 26 builds the Dallas-based manager's assets under management to $5.5 billion.

A $3.8 billion surge in deposits in the third quarter will allow the subprime lender more flexibility to fund originations on balance sheet, rather than bundling these assets into collateral for bonds.

While the company still relies heavily on sales of solar panels, these purchases are now funded by third-party lenders, rather than in-house.

The company is lending less and issuing smaller securitizations this year, but investors keep flocking to the subprime lender's paper.

The captive finance arm of General Motors has been pulling back on leasing, but it still expects to be negatively impacted by falling used car prices for the remainder of the year.

A bipartisan coalition of AGs and officials representing 25 states sent a letter to Education Secretary Betsy DeVos today urging the department to reject what they said was a campaign to dismantle state oversight of the industry.

The second liens, which accompany CMBS first mortgages, range in size from $500,000 to $5 million, a segment of the market that is not well served by either banks or debt funds.