Securitization

Cerberus Capital Management is marketing its first securitization of re-performing mortgages of the year.

Citigroup and Goldman Sachs are marketing nearly $2 billion of bonds backed by commercial mortgages used to facilitate Blackstone Real Estate Partners VIII’s acquisition of BioMed Realty Trust.

Octagon Investment Partners’ new CLO is its first leveraged loan collateralization since September, as well as its debut portfolio being acquired last November by global insurance asset firm Conning.

Despite months of concerns over the credit standing for troubled Valeant Pharmaceuticals, the specialty pharmaceutical company remains the single-largest obligor in collateralized loan obligation holdings.

While the $1.9 billion of bonds are not guaranteed by the government, most of the underlying loans could have been sold to Fannie and Freddie, and the transaction accomplishes the same thing as the GSEs' risk-transfer deals.

Issuance of bonds backed by aircraft leases is booming as airlines turn to lessors to fill gaps in their fast-expanding fleets in response to falling energy prices and rising passenger traffic. They are increasingly booking the older, less fuel-efficient airplanes in lessor’s fleets, which can now be operated profitably.

The Consumer Financial Protection Bureau asked a federal court Tuesday to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.

Wells Fargo is securitizing $712 million in commercial mortgages with heavy exposure to offices and self-storage facilities. The collateral is also less heavily concentrated compared to other CMBS deals covered by Fitch Ratings.

Ford Motor Credit is returning with a second securitization of dealer inventory financing in two months

Total commercial and multifamily mortgage debt outstanding increased in the fourth quarter of 2015, according to the Mortgage Bankers Association.

Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.

J.P. Morgan Chase is preparing one of the largest private label mortgage securitizations since the financial crisis. It is backed by a pool of over 6,000 loans totaling nearly $1.9 billion.

Late payments on subprime auto loans packaged into bonds have eclipsed 2009 recessionary levels and are now at a level not seen in nearly two decades, according to Fitch Ratings.

World Omni Financial Corp. and Prestige Financial Services added a combined $1.17 billion of securities backed by auto loans to the new issue pipeline this week.

The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies.

Synchrony Financial has mapped out a public offering of $547.9 million in notes backed by credit card receivables, in the latest of 23 series it has outstanding through the Synchrony Credit Card Master Trust.

One month after closing its debut consumer-loan securitization of 2016, OneMain Financial is returning with a second offering of $444.5 million in non-prime and subprime personal loans originated through its branch network.

Sports Authority’s plans to close 140 stores impact 25 loans backing commercial mortgage bonds, though only six are at elevated risk of default, according to Morningstar Credit Ratings.

Ford Motor Credit Co. is out with its first auto lease securitization of 2016, according to Fitch Ratings. The pool is backed 48,082 leases totaling $1.12 billion, a level consistent with Ford’s two previous deals completed in 2015.