Securitization

OnDeck Capital, the marketplace lender that recently launched a partnership with JPMorgan Chase, is marketing bonds backed by its own small business loans, according to DBRS

The number of new claims related to sellers of legacy mortgage-backed securities from the financial crisis may have peaked, but lawsuits against trustees and servicers may linger for at least a few more years.

Flagship is marketing its fourth subprime auto loan securitization since its merger with CarFinance in January 2015, according to Kroll Bond Rating Agency.

LendingClub Corp., a pioneer of online marketplace lending, said it raised rates for borrowers again to reflect a gloomier economic outlook and worse-than-expected performance for some of its riskiest loans.

Fannie Mae has completed its latest Credit Insurance Risk Transfer transaction, the tenth deal since the program’s inception in 2013

An online student loan refinancing business that was recently spun off from a Virginia bank has been rebranded as Purefy Inc.

Avant, the marketplace lender that added former FDIC Chairman Sheila Bair to its board this month, is marketing its second rated securitization of loans to consumers with less-than-stellar credit.

Strong investor demand for two recent securitizations by Navient, the largest servicer of federally guaranteed student loans, suggests that banks may soon have an opportunity to resume unloading such assets.

NextGear Floorplan Master Owner Trust 2016-1 is an ABS of two pools of auto and specialty vehicle loan receivables from dealers using the funds to purchase used cars and trucks from auto auctions that include inventory from other dealers as well as salvage-title cars.

Velocity Commercial Capital is returning to the securitization market, having tightened underwriting of small balance commercial loans following the disclosure that one of its borrowers misrepresented the use of proceeds.

The Consumer Financial Protection Bureau's agenda is so packed it's no wonder that when Director Richard Cordray testifies on Capitol Hill, he has to tackle a huge array of subjects. Following are areas where the agency has proposals or final rules outstanding:

The shakeout in the sporting goods industry continued to impact commercial mortgage bonds, as Sports Chalet is closing stores that are tenants in properties backing 11 CMBS loans.

Senate Banking Committee Chairman Richard Shelby, R-Ala., is seeking input from the Government Accountability Office and the Congressional Budget Office on the future of policies dealing with Fannie Mae and Freddie Mac.

BMW AG is securitizing its fourth pool of auto loans to German consumers and business customers in a €800 million transaction through its Bavarian Sky S.A. platform.

Morgan Stanley and Bank of America Merrill Lynch are using a regional mall in Oklahoma City to dress up another highly leveraged offering of commercial mortgage bonds.

Napier Park Global Capital, the hedge fund spun out of Citigroup, has found a new way to raise money to invest in railcars.

Onex Credit Partners is launching its first CLO of 2016, and 11th overall, following up a 2015 when the private equity group issued three collateralized loan obligations of mostly similar sizes.

As financial regulators consider how to fit the burgeoning marketplace lending industry into the existing regulatory structure, banks and consumer advocacy groups are beginning to question how community reinvestment and anti-redlining statutes might be applied, if at all.

A $388.5 million securitization is being planned for a single commercial loan to the Palisades Center Mall in New York, a metro super-regional mall emerging from two years of renovations and major retail tenant poachings by a rival development.