Securitization

Volvo is preparing its seventh annual securitization of leases on trucks and other commercial equipment, according to Fitch Ratings.

Like other increasingly risk-averse subprime auto lenders. AmeriCredit has boosted the credit quality of the collateral for its first securitizaton of the year.

SoFi, the online lender that caters to well-heeled millennials, has reached an agreement with Promontory Interfinancial Network to sell student loans to community and regional banks.

The Consumer Financial Protection Bureau and the New York attorney general filed a lawsuit Tuesday against a New Jersey law firm and its owner for allegedly luring 9/11 first responders and football players with brain injuries into taking out loans with high interest rates as advances on settlements.

Two Harbors Investment Corp. added to its holdings of mortgage servicing rights in the fourth quarter of 2016 and has no plans to stop.

CVC Credit Partners is marketing what is only the second new European collateralized loan obligation of the year.

Student loan servicer Navient is marketing $1billion of bonds backed by federally guaranteed student loans, according to rating agency presale reports.

Commercial Mortgage Bonds Enjoy Different Kind of Regulatory Relief

Stonebriar Commercial Finance is sponsoring a four-note, asset-backed transaction that is supported by receivables from contracts it services with an aggregate outstanding balance of nearly $340 million.

SuttonPark Marketing is offering its fourth structured-settlement payments securitization backed by court-ordered personal injury and lottery settlements. The company has acquired $1.23 billion of structured settlement payment accounts since 2009.

Scotiabank’s Securitized Term Auto Receivables Trust 2017-1 (SSTRT) will issue $500 million in U.S.-denominated senior notes across four tranches. The US$400 million BMW Canada Auto Trust 2017-1 (BMWCA) is the third term securitization of retail auto lease contracts originated by BMW Canada’s dealer network. It’s previous deals were in 2015 and 2016.

In the past week, five new-issue collateralized loan obligations have been launched and/or priced by U.S. managers, after just one deal was arranged in the first two weeks of the year. The latest deals were placed by THL Credit Advisors, Sound Point Capital Partners, CIFC Management, Apex Credit Partners and Octagon Credit Investors.

Two lenders, DriveTime Car Sales and Mechancis Bank, launched a combined $854 million of auto loan-backed securities Friday.

Renovate America, one of the largest providers of Property Assessed Clean Energy Loans, is expanding into unsecured lending.

Capital Home Loans, a Cerberus-owned issuer of older UK “buy-to-let” mortgages is marketing a £1.64 billion pool of the pre-crisis era loans.

A federal appeals court ruling has opened the door for litigants to challenge a 2012 decision by the U.S. government to sweep all of Fannie Mae and Freddie Mac's profits into the coffers of the Treasury Department

Late payments on both prime and subprime securitized auto loans continued to rise in December, reaching a five-year high according to Fitch Ratings.

Companies whose financials have taken hits due to their holdings of mortgage servicing rights are in for a treat, according to Moody's Investors Service.

Intermediate Capital Managers broke the ice on new CLO deals in Europe this week as it priced a new €400 million portfolio of broadly syndicated loans and high-yield bonds.

Prosper Marketplace, a pioneering online lender that has struggled recently, has hired a former USAA executive as its chief financial officer.