Securitization

Groupe Banque Populaire, Caisse D’Epargne (BPCE) is pursuing a second securitization from a revolving pool of up to €50 billion in residential mortgage loans held in its two-year-old asset-backed fund.

Online lender Social Finance is planning a second consumer-loan securitization in just over a month with a $480 million notes offering backed by $575 million in prime, high-earner unsecured personal loans.

The subprime auto lender – a unit of the Spanish banking giant Banco Santander – initially planned to release its earnings on Wednesday, July 27. But it said in a news release that its financial statements have "not yet been completed" due to discrepancies between current and former accountants over the way it calculates its provision for credit losses. Santander Consumer did not set a new date for the results.

The official platform of the Republican Party has softened language calling for the end of Fannie Mae and Freddie Mac, while continuing to demand reform.

The unusually strong loan performance in the credit card business lasted longer than many observers expected. But today the industry's prolonged post-crisis era finally appears to be over.

EJF Capital is marketing $333.75 million of notes backed by trust preferred securities issued by banks and insurance companies.

Deutsche Bank and JPMorgan Chase have found a home for the another portion of a $558 million mortgage on a San Francisco shopping mall that serves as collateral for a single-asset CMBS launched this week.

Since 2013, CLO Managers have been issuing notes with rates that are initially low, but step up after 18 to 24 months, betting that they can refinance them more cheaply; so far their success has been mixed.

One of the nation's biggest banks and the so-called "everything store" have joined forces to extend loan discounts to students.

American Credit Acceptance is preparing $230 million of bonds backed by subprime auto loans, its third term securitization of the year.

The City of New York is making its annual trip to the securitization market with tax liens.

FirstKey Mortgage and Redwood Trust are marketing a combined $1.3 billion of private label residential mortgage bonds.

Kubota Credit Corp., the finance arm of Kubota Tractor Corp., is marketing $600 million of bonds backed by loans to acquire agricultural, construction, and turf equipment.

Navient is contemplating another securitization of federally guaranteed student loans to borrowers who were once in arrears but are now making timely payments.

The Federal Housing Administration released lender guidance spelling out the circumstances under which it will insure mortgages on properties encumbered by Property Assessed Clean Energy liens similar to tax assessments.

Fannie Mae has priced its latest credit risk sharing transaction under its Connecticut Avenue Securities (CAS) series 2016-C04, a $1.32 billion note offering scheduled to settle on Thursday, July 28.

Deutsche Bank and JPMorgan Chase are readying $300 million of commercial mortgage bonds backed by a single asset – a San Francisco shopping mall.

The consumer-finance startup CommonBond is doubling down on the education-debt market, which has been a pocket of tranquility in an otherwise volatile online lending sector.

The Mortgage Partnership Finance Direct program will now accept larger jumbo mortgages and a wider variety of products including hybrid adjustable rate mortgages, the Federal Home Loan Bank of Chicago and Redwood Trust said Monday.