Securitization

Greystone, a commercial real estate lending, investment and advisory company, is adding two executives to a mortgage bond lending team.

The RBC Capital Markets is marketing what is likely to be one of very few offerings of Canadian commercial mortgage bonds this year.

A proposed class-action lawsuit against LendingClub threatens investors in bonds backed by its loans and similar debt even if the plaintiff loses, according to Moody's Investors Service.

Driven Brands, the holding company controlled by Roark Capital, is issuing another $45 million from its whole business securitization.

Global Lending Services is prepping a $200 million offering of bonds backed by subprime auto loans.

The Treasury Department will release a white paper next week outlining “research and recommendations” related to marketplace lending as a capstone to its nearly yearlong inquiry into the fast-growing industry

VCL Master Netherlands B.V. is a Euro-denominated ABS that will issue two series of notes backed by €260.05 million in outstanding principal of from more than 14,000 vehicle lease contracts, as well as €108.97 million in receivables’ residual values.

Moody’s Investors Service has assigned a provisional ‘Aaa’ rating to the class of €556.5 million Class A floating rate notes. None have been assigned to the €43.5 million Class B stack.

The early performance of bonds backed by rehabbed residential mortgages is pretty strong, according to Fitch Ratings.

The $828.6 million American Airlines Series 2016-2 trust certificates will be secured by 22 recently or soon-to-be delivered, newly manufactured Airbus and Boeing passenger jets, American reported in a filing with the Securities and Exchange Commission.

Prosper Marketplace Inc., one of the largest U.S. online lending platforms, is slashing its workforce 28%, joining rivals in signaling investors aren’t as eager to fund loans after years of rapid growth.

Credit Acceptance Corp. received a subpoena from the Maryland attorney general regarding its repossession and sales policies, the subprime lender disclosed Monday.

Freddie Mac priced its latest offering of notes transferring mortgage credit risk at much narrower spreads than the previous deal, completed in March.

Wells Fargo’s latest commercial mortgage trust deal is a higher-leverage gambit of riskier debt-service coverage and loan-to-value ratios, driven by additional subordinate financing carried by some of the pool’s largest borrowers.

One of the biggest challenges in putting new CLO deals together has been the decline in the number of buyers of CLO debt. Justin Plouffe, managing director of U.S. and European CLOs at The Carlyle Group, discusses the means to which managers must adapt to market direction.

New Jersey is the latest private student lender to test the securitization market.

Credit Acceptance Corp. is marketing $330 million of notes backed by subprime auto loans.

OnDeck Capital reported a quarterly loss of $12.6 million as revenues fell short of expectations. At the same time, the New York firm sharply reduced its earnings projection for the rest of the year

U.S. collateralized loan issuance showed encouraging signs of revving up last week as seven U.S. deals hit the market, bringing the final April tally of transactions to 16.