Securitization

Presale reports were issued Monday for the $407.35 million Wellfleet CLO 201-1 and the $406.35 million NXT Capital CLO 2017-1; the two deals are the latest of four new offerings noted by ratings agencies since last week and among 14 this month.

In a report published Monday, Fitch Ratings noted that a timeshare loan securitization Marriott completed in 2012 has not experienced a net loss to date -- but only because the company is repurchasing bad loans.

Collateralized loan obligations are in such high demand that investors are increasingly willing to allow managers to actively manage portfolios for longer periods.

Capital One is securitizing $1.15 billion in consumer and small-business credit-card receivables, in its first asset-backed card series notes transaction since August.

Spire Partners priced the first new Euro-denominated CLO deal for March, the €348 million Aurium CLO III last week, according to a report published Monday by Moody's Investors Service.

Bayview Asset Management is marketing two offerings of bonds backed by mortgages that were once delinquent but are now making timely payments.

JCPenney released a list of 138 stores that the retailer plans to shutter in an effort to reduce costs and drive sales growth based on its better-performing locations.

In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing

The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau.

Five prime lenders have launched $5.5 billion in new loan- and lease-backed securitizations, including the second transaction of the year for Ally Financial.

A $165 million cash settlement has been reached in a class-action lawsuit that alleged investors were misled about the safety of mortgage-backed securities comprised of loans originated by now-defunct subprime lender NovaStar Mortgage Inc.

Capital Automotive is marketing another $900 million of bonds backed by leases on auto dealerships.

SoFi Lending Corp. is marketing its second student loan securitization of the year.

LSTAR Capital Finance is returning to the securitization market with another offerings of bonds backed by high quality, but highly leveraged commercial mortgage bonds.

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs

Industry groups are raising more concerns about a Fannie Mae financing deal involving the securitization of single-family rental homes, arguing it is too far removed from the government-sponsored enterprise's mandat

Wells Fargo’s next offering of commercial mortgage bonds is unusually concentrated in a relatively small number of large loans, though many are high quality properties located in strong markets.

Shellpoint is marketing another offering of private-label mortgage bonds backed primarily by loans it acquired from Bank of America, National Association, rather than loans originated by its own New Penn subsidiary

The monthly change for defaulted holdings in CLO 2.0s – which now comprise 95% of the market for outstanding CLO issues – rose 0.1% and now stand at 0.12%. The rate for CLO 1.0s rate 0.12%, now standing at 3.13%.

Social Finance Inc.’s online borrowers are defaulting at higher rates than underwriters for one of its bond deals had expected, the latest sign that an industry that hoped to upend banking is now getting tripped up by bad loans.