Securitization

The market for commercial mortgage bonds is becoming “fragile,” even before new regulations take effect that will drive up the cost of borrowing, a trade group warned Thursday.

Moody’s Investors Service’s ranking of the top 10 managers of collateralized loan obligations at year-end 2015 was largely unchanged from mid-year, both in terms of deal count or AUM. But the biggest players collectively lost some market share to their mid-sized brethren.

More borrowers with spotty credit are failing to make monthly car payments on time, a troubling sign for investors who have snapped up billions of dollars of securities backed by risky auto debt.

The Fitch European Auto ABS delinquency indices for both early (30+ days) and late (60+) delinquencies fell to 0.69% and 0.34% respectively, the lowest point in the last 11 years for each.

Pillsbury Winthrop Shaw Pittman has hired aviation finance expert Jonathan Goldstein as a partner to lead its high-end transportation and structured financing practice in its New York office.

The notes are backed by 1,085 mortgage assets with a balance of $302,891,615. Some are from a unrated deal completed in 2014 that Nationstar recently called. All are insured by the Federal Housing Administration.

Well, something has to. For proponents of modernization and greater efficiency in the syndicated loan, bond, swaps, and private placement markets, it’s well past time to put investors, banks, brokers and borrowers on the same technological page.

The terms "peer-to-peer" and "marketplace" lending are often used interchangeably to define all manner of loans made through the Internet. The reality, though, is that aside from lacking storefronts, the many firms now operating in this arena have little in common with one another. Here's a guide to help tell them apart.

Deutsche Bank has pieced together an $806.2 million commercial mortgage securitization highlighted by the $42 million mortgage for Netflix’ expanded headquarters space under construction in Las Gatos, Calif.

OnDeck Capital in New York reported a $5.1 million loss in the fourth quarter as revenue failed to keep pace with rising expenses.

Ford Motor Credit went the extra mile in complying with Regulation AB II, but it turns out that other auto lenders don’t have to.

John Deere is marketing $775 million of bonds backed by equipment leases.

The Long Island Power Authority (LIPA) plans to issue $381.73 million of tax-exempt bonds backed by restructuring charges imposed on its retail electricity customers, according to Moody’s Investors Service.

The mortgage giants Fannie Mae and Freddie Mac are headed for another government bailout soon unless policymakers act, their regulator warned Thursday.

The California Supreme Court on Thursday ruled that borrowers may challenge a wrongful foreclosure on the grounds that the assignment of the deed of trust was invalid.

Kroll Bond Rating Agency placed the ratings of $67.3 million of commercial mortgage bonds from three transactions under review for a possible downgrade due to their exposure to buildings with tenants in North Dakota’s oil industry.

Toyota Motor Credit is prepping a $1.25 billion offering of securities backed by prime auto loans.

Deutsche Bank is securitizing a portion of a loan used to purchase an office building on Manhattan’s Westside, according to rating agency reports.