Securitization

Barings U.K. is serving as manager for a new collateralized loan obligation warehouse funding structure that will have a target notional value of between €320-€400 million (US$338-$422.8 million), according to a report from bond rating agency DBRS.

Freddie Mac is preparing a transaction that transfers credit risk on $639.9 million of super conforming residential mortgages.

Tennessee bankers are opposed to the introduction of the green-bond financing program in the state because of the first-lien priority of PACE assessments over mortgages. PACE programs are already in place in 32 states and the District of Columbia.

Orico, a Japanese finance company, is pursuing its sixth multi-currency prime auto loan securitization in a $336.5 million deal that includes several tranches of U.S.-dollar denominated bonds.

Rising interest rates have slowed a recent run of unexpectedly high prepayments of government-insured mortgages, making servicing rights for loans held in Ginnie Mae securities more attractive to investors.

U.S. CLO new issue bounced back in February with 15 deals coming to market for a combined total of $8.1 billion, according to Thomson Reuters LPC.

Subprime auto lender Westlake Financial Services is hoping asset-backed investors can stomach a bigger dose of regulatory risk.

Multifamily is one of four lending subcategories that regulators consider when assessing a bank’s exposure to commercial real estate. Dozens of banks remain above regulators’ preferred capital ratio for measuring CRE risk.

Avis Budget Car Rental is piecing together the market’s second rental-car fleet transaction of the year in a $500 million transaction.

ECMC Group is marketing another $409 million of notes backed by federally guaranteed student loans that were once delinquent but are now making timely payments.

Cohen Financial Services is readying a $567.4 million offering of bonds backed by mortgages on office, retail and apartment buildings in a state of transition.

Verizon has launched its third overall securitization of device payment plan (DPP) receivables with a $1.29 billion notes offering carrying slightly heavier risks for investors than its first pair of deals in 2016.

GM Financial and Toyota Motor Credit wasted no time in returning to the securitization market following the conclusion of an industry confab in Las Vegas; the two are marketing nearly $3 billion of prime auto-related bonds.

PGIM is placing its first collateralized loan obligation offering of the year with an tilt toward lower-quality credits, as well as deferred interest across a large segment across the subordinate tranches of the $612 million transaction.

Some commercial mortgage bond investors would like to see sponsors of deals eat even more of their own cooking. And that appears to be what Goldman Sachs is doing in a transaction that launched Wednesday.

Late payments on securitized commercial mortgages resumed climbing in February, after an unexpected pause the previous month.

Securitization pros compared notes on regulatory compliance and learned about the risks and rewards of fintech; here are the highlights of the Structured Finance Industry Group;s annual confab.

Angel Oak is preparing its first offering of rnonprime esidential mortgage bonds with a credit rating.

JPMorgan is relying on someone else to keep “skin in the game” of its next offering of commercial mortgage bonds.