Securitization

Fannie Mae said Thursday it obtained reinsurance on another $11.7 billion of residential mortgages through its Credit Insurance Risk Transfer of the year.

Warning signs are growing in structured finance for 2017.

With looming risk-retention rules less than two months away, collateralized loan obligation managers may push refi levels to new heights before the year is out.

Five commercial mortgage securitizations totaling some $3 billion hit the market Tuesday and Wednesday. This marks a return the pace seen before last week’s presidential election, when deal flow slowed considerably.

Student loan servicer Navient Corp. has extended the maturity of another $469 million of bonds backed by federally guaranteed student loans.

The Toronto-Dominion Bank, which hadn’t structured a credit-card securitization in 13 years prior to 2016, is prepping its third multi-currency notes offering of the year secured by Canadian dollar-denominated card receivables.

Progress Residential is refinancing another securitization of single-family rental properties.

A group of online consumer loans that were packaged into bonds is going bad faster than lenders and bond underwriters had expected, the latest sign that some startups that aimed to revolutionize the banking industry underestimated the risk they were taking

Morningstar Credit Ratings continued its push to become a one-stop ratings agency this fall, adding collateralized loan obligations to its menu of structured finance ratings. The firm issued its first public ratings for two deals in September and November.

Investors in commercial mortgage bonds are becoming comfortable with property assessed clean energy financing.

Aaron Vermut has resigned as chief executive of Prosper Marketplace, according to a report in The Wall Street Journal.

Shellpoint Partners is preparing its first private-label mortgage securitization in over a year, according to Kroll Bond Rating Agency.

The $2-per-pack increase boosts the cost for California smokers by 35%, which Moody's said will decrease cigarette consumption across the country because California comprises 10% of total U.S. cigarette consumption.

SoFi Lending Corp. is marketing its fifth portfolio of refi student loans issued to select advanced-degree professionals. Meanwhile, the Pennsylvania Higher Education Assistance Agency is packaging its second portfolio of primarily FFELP consolidated loans, a significant portion of which carry existing or prior impairments.

A Goldman Sachs affiliate submitted the winning bids in Fannie Mae's eighth nonperforming loan sale.

Park Hotels & Resorts, the real estate investment trust being spun out of Hilton Worldwide Holdings, is making another trip to the securitization market.

Banking industry lobbyists and representatives are practically salivating over the election results, convinced that Republican control of the White House and Congress will finally give them the opportunity to roll back key parts of the Dodd-Frank Act.

Santander Consumer USA is smoothing out risk factors in its latest deep-subprime vehicle loan securitization. Drive Auto Receivables Trust 2016-C is a $1 billion offering of deep-subprime new and used retail auto and light-truck loans originated by Santander.