Securitization

Mid-market business equipment leasing firms Ascentium Capital and Axis Capital has each launched securitizations of recent contract pools.

Insight Wireless Group is issuing another $301.5 million of notes backed by cellular towers, according to Fitch Ratings.

Orange Lake Country Club is marketing $176 million of notes backed by timeshare loans, according to Fitch Ratings.

Traditional banks and marketplace lenders may soon find themselves united in competition against a common threat: Goldman Sachs.

Eight prime and subprime auto loan and lease securitizations have arrived in the asset-backed market this week, tallying up approximately $6.72 billion in new deals.

Bayview Asset Management is securitizing $159.6 million of securities that transfer the risk of credit losses on mortgage insured by Fannie Mae and Freddie Mac, according to Fitch Ratings.

The Florida Public Service Commission has a beef with Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings, which all characterize bonds backed by utility fees as a kind of structured finance, rather than as corporate bonds.

Hawksmoor Mortgages 2016-2 plc is a British sterling-pound denominated RMBS with a £1.124 billion pool balance secured by mortgages to residential properties in the UK extended to 12,153 borrowers. Eighty percent were originated by GE's UK home-lending arms that have since sold off portfolios and exited the British mortgage scene.

Sprint Corp. is borrowing against its most valuable asset – the airwaves – to buy more time for a turnaround.

Subprime borrowers are falling behind on their car loan payments at the highest rate in more than six years, and some bonds backed by these loans are vulnerable to getting downgraded, according to S&P Global Ratings

What the CFPB Constitutionality Ruling Means for banks and other lenders.

Navient Corp. is planning its second student-loan securitization in excess of $1 billion this year. The transaction also marks a return to a pool of primarily performing loans through the Federal Family Education Loan Program (FFELP), after two prior transactions consisting entirely of rehab loans that have rebounded from default status.

Fannie Mae has released the details of its pilot sale of reperforming loans.

Tricon American Homes is prepping its second securitization of single family rental homes, according to rating agency reports.

Three separate offerings of private loans consolidating the debt of medical students and other recent graduates hit the market last week

Increased loss expectations have weakened credit metrics in Westlake Services’ new $500M securitization of subprime vehicle loan receivables. The heightened risk is offset, though, by a continued expansion of its franchise network that is putting borrowers into more reliable, and more expensive, vehicles.

The latest asset-backed transaction, Opportun Funding IV, LLC, Series 2016-C is a $125 million offering of two classes of notes, backed by $147 million in personal consumer loans in Hispanic communities in the U.S.

The five-year loan to South Korean ownership group MAPS Waikiki Hotel LLC was originated by JPMorgan, and comes three years after the renovated property’s leasehold was purchased from the Blackstone Group, which had performed $110.5 million in property renovations.

Edward DeMarco, a former director of the Federal Housing Finance Agency, argues in a new paper that utilizing Ginnie would make for a smoother transition to a new system.

Altisource Residential, a real estate investment trust, is securitizing a portfolio of 4,262 single family rental properties that it recently acquired from Amherst Holdings.