Securitization

Fannie Mae and Freddie Mac could need as much as $126 billion in bailout money from taxpayers in a severe economic downturn, according to stress test results released Monday by their regulator.

A new premier Manhattan office development project – 10 Hudson Yards – has parceled out part of its debut $708 million commercial loan into a commercial mortgage-backed facility of loans through Deutsche Bank and Citigroup. CD 2016-CD1 is a pool of 32 fixed-rate loans secured by 58 commercial properties.

Rules requiring CLO managers to keep skin in the game of their deals has taken a toll on smaller firms. But the resulting thinning of the ranks has created room for some new players that are better capitalized, including insurance companies.

Credit Suisse is marketing $180.8 million of bonds backed by a portfolio of 58 suburban office and industrial properties totaling 3.9 million square feet, according to Standard & Poor’s.

The Loan Syndications and Trading Association has finalized a rule designed to speed up settlement of leveraged loans.

Ally Financial, the nation's largest auto lender is dismissing comparisons between the subprime mortgage bubble and the more recent boom in car loans.

Two Harbors, which last week announced it was getting out of private label mortgage securitization business, is marketing one last deal. The deal, Agate Bay Mortgage Trust 2016-3, is backed by 518 loans with a total balance of approximately$380.7 million, according to Fitch Ratings.

The Consumer Financial Protection Bureau on Thursday issued a final rule for mortgage servicers that provides greater protections to struggling borrowers, surviving family members and borrowers in bankruptcy.

Deutsche Bank and Goldman Sachs are marketing $600 million of bonds backed by a single, newly constructed Manhattan office building, 10 Hudson Yards.

Hyundai is marketing its third auto lease securitization of the year, according to Fitch Ratings.

Online lender Avant is returning to the securitization market for the first time since shedding staff and shelving expansion plans in the spring with a $200 million notes offering featuring loans with higher-quality credit features.

Hawksmoor Mortgages 2016-1 PLC is a collection of U.K. mortgage loans. More than 80% were originated by GE Money’s home lending and mortgage units, with about one-third consisting of aged, pre-crisis loans issued in 2007.

L Brands, a global retailer, and certain principals of The Georgetown Co., a property developer, are tapping the securitization market to do a cash-out refinancing of a super-regional retail complex in Columbus Ohio

Late payments on securitized commercial mortgages ticked higher again in July, for the same reason they did in June: a number of large loans fail to pay off at maturity.

New Jersey lawmakers have called a hearing next week to grill the state’s student loan authority about its collection practices and lending terms.

Foundation Finance Co., which underwrites and acquires installment loans issued by third-party home improvement contractors, is launching it’s first-ever collateralization sized at $178.15 million.

Ocwen Financial Corp. is marketing $500 million of notes backed by reimbursement rights to funds it has advanced on residential mortgages that it services.

The rating agency in the second quarter upgraded 149 tranches of senior, mezzanine or subordinate notes across 49 CLOs. By comparison, it downgraded just 13 tranches of six CLOs.

Allen & Overy has added a team of five partners specialized in leveraged financings to its New York office.