Securitization

Dutch mortgage lender Obvion N.V. is structuring its 34th securitization of residential mortgages through its Purple Storm 2016 B.V trust.

Recently allegations of fraud against Lending Club and several Chinese marketplace lenders have some observers calling for more daylight on the loans sold on these marketplaces. Specifically, they're floating the idea of a technology and service that would register and track ownership of the loans and validate basic facts about them and the borrowers.

Late payments on securitized commercial mortgages moved noticeably higher in June, as several large loans failed to pay off at maturity.

Dell Financial Services is prepping its first equipment-lease securitization of the year, with a transaction that slightly dilutes the concentration of large-enterprise contracts among its obligors.

BMW of North America's owner trust is issuing its first auto-loan securitization in nearly two years, while CarMax is coming out with its second of 2016. Also, Nissan is planning to issue its first dealer floorplan ABS of the year.

New rules designed to stop U.S. companies from moving their tax addresses offshore are so written so broadly that they could disrupt the securitization market, a trade group warned Thursday.

Enterprise Fleet Management is tapping the securitization market for the second time this year.

The Blackstone Group recently got $556.4 million in loans on the 1,047-room Waldorf Astoria Boca Raton Resort & Club, paying off debt it had taken out just three years earlier, cashing out $136.5 of equity in the process.

Sierra Timeshare 2016-2 Receivables Funding is a $300 million, two-tranche notes offering that is secured by more than 14,000 loans through company subsidiaries Wyndham Vacation Resorts and Wyndham Resort Development Corp.

The Federal Housing Finance Agency has opened the door to experimenting with front-end credit risk transfer transactions, but it is not wide enough for some market players.

The mixed-use office/retail complex at 693 Fifth Avenue, which was sold last month by Thor Equities for $525 million, is one of 47 loans backing the $939 million portfolio being issued by the JPMorgan Chase Commercial Mortgage Securities Trust.

World Omni Financial Corp. is making its annual trip to the securitization market with auto leases.

Bank of Montreal (BMO) is backing its third receivables-backed securitization of the year, but the first split-denomination ABS transaction of 2016 in the $1.1 billion deal. TD Bank's Evergreen Trust is also marketing a US/Canadian dollar denominated securitization.

An unusual way of attracting investors in the riskiest slices of collateralized loan obligations is coming under scrutiny.

FHFA report on GSE's nonperforming loan sales highlights

Freddie Mac has obtained another three new insurance policies under its Agency Credit Insurance Structure program, representing the largest aggregate transaction to date.

Many energy lenders have begun to sour on shared national credits after years of using the hefty loans to bulk up their balance sheets.

U.S. CLO issuance gained traction in the second quarter, as the dollar volume of deals more than doubled after a sluggish start to the year. Nearly half the respondents in the survey now project CLO issuance to reach about $45 billion for the full year, well below forecasts made at the start of the year.

An eventual "Brexit" from the European Union could exclude CLO managers and investors from the CLO market under existing and proposed EU rules that restrict risk-retention and market activity to EU regulated firms.