Securitization

SoFi Lending Corp. is Marketing its first Rated Consumer Loan Securitization

The $2.8 billion in CLOs that have priced this month is not enough to reverse the sluggish 2016 CLO market, which is down over 50% in both deal count and dollar volume compared to mid-2015. But six deals to date in June are pacing toward a third straight month of collateralized loan obligation deal volume topping $5 billion.

Moody's revised its criteria for rating FFELP ABS to take into account heavy borrower usage of Income Based Repayment.

Synchrony Financial said Tuesday that it is expecting loan losses to rise over the next year as more consumers struggle to pay off their credit card balances

Renewable Funding is preparing its first securitization of Property Assessed Green Energy Bonds, according to Kroll Bond Rating Agency.

Cherrywood Commercial Lending, a specialty finance company that caters to owners of smaller commercial properties, is preparing a $115 million securitization, according to DBRS.

A survey of insurers conducted by the Commercial Real Estate Finance Council and Trepp indicates that participants allocated 11.08% of their invested assets to commercial mortgages at the end of 2015, an increase of 40 basis points over the end of 2014.

Chesapeake Funding I LLC Series 2016-2 follows the $600 million offering in March in the Series 2016-1 Series, which together combine for about half the collateral pool of nearly $2 billion in receivables balances on open-ended vehicle leases serviced by Element Vehicle Management Services Group.

Caliber Home Loans is marketing a residential mortgage-backed securitization mainly backed by nonprime loans, called COLT 2016-1 Mortgage Loan Trust.

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.

Loan market participants are in an uproar over the announcement by the European Parliament this Monday that it is considering quadruple the amount of skin that originators of asset-backed securities must have in the game.

Spruce Finance, Inc., a newly formed financier of residential energy-efficiency and solar panel installations, is issuing its first securitization of home improvement loans originated through both its predecessor companies and Fannie Mae.

Marketplace lenders have unveiled a number of self-regulatory plans over the last year in an attempt to stave off government intervention. But a top official at the Federal Trade Commission said Thursday that what has been done so far is not sufficient to protect borrowers.

Duke Energy Florida has launched a $1.3 billion offering of bonds backed by fees it will charge to recover costs associated with the retirement of its Crystal River Unit 3 nuclear power plant

Fearing that housing finance reform has fallen off the congressional priority list, bank and housing trade groups sent a letter to Federal Housing Finance Agency Director Mel Watt on Wednesday to draw attention to the issue.

Two new auto loan pools being issued this week by Foursight Capital and DriveTime Auto Group provide evidence of subprime auto lending’s ongoing market momentum.

Growth in air travel is slowing, but investors are still snapping up bonds backed by leases on passenger jets.

LendingClub abruptly adjourned its annual shareholder meeting Tuesday, saying it wasn't ready to address investors after a leadership shakeup last month. It also overhauled criteria for the consumer loans it arranges online.