Securitization

Card issuers are again lending to weaker borrowers; It’s just a matter of time before the receivables show up in trusts.

Card issuers are again lending to weaker borrowers; It’s just a matter of time before the receivables show up in trusts.

EverBank Financial Corp. in Jacksonville, Fla., has agreed to sell its default mortgage servicing platform, along with more than $20 billion in rights, to a subsidiary of Walter Investment Management.

JPMorgan may be trying to put the sins of the past behind it; however, put-back risk for the industry is alive and well despite efforts by the federal government to impose what it deems to be appropriate mortgage underwriting standards.

The peer-to-peer lending platform expanded into new territory at the beginning of October when investment management firm Eaglewood Capital completed the first securitization of these consumer loans.

New York Life Investment Management is preparing to issue a $409 million collateralized loan obligation called Flatiron CLO 2013-1, according to a presale report from Fitch Ratings.

AmeriCredit plans to issue a $900 million subprime auto loan securitization, its fifth deal so far for 2013.

Goldman Sachs, Citigroup and Jefferies have announced a $997.9 million CMBS conduit called GSMS 2013-GCJ16.

Freddie Mac’s $245 million class M-1 notes from its second risk sharing bonds issuance have been rated ‘BBB-’ by Fitch Ratings.

Kroll Bond Ratings Agency assigned a preliminary ‘AAA’ ratings to the class A notes issued under the Deutsche Bank led, REO-to-Rental securitization issued by Blackstone.

Citigroup plans to issue a non-agency residential mortgage backed security, a person with the bank confirmed.

Bank of America Merrill Lynch plans to issue a $345 million hotel CMBS that is backed by two commercial mortgage interest only loans secured by the Walt Disney World Swan & Dolphin Resort.

The Loan Syndications and Trading Association is asking regulator to recognize a category of higher quality leveraged loans that would not be subject to proposed risk retention rules.

The Education Finance Council (EFC) said today that non-profit student loan organization should be exempt from the 5 percent credit risk retentions rules.

In the third quarter, seven of the 15 top-performing “legacy” CLOs rated by Moody's Investor Service were managed by Credit Suisse Asset Management.

An increase in demand for private student loans will have a positive impact on private student loans asset backed securities, according to Deutsche Bank.

Governor Andrew M. Cuomo yesterday announced appointees to the Long Island Power Authority utility debt securitization board.

CarMax Auto Owner Trust 2013-4 was upsized to $1 billion from $800 million and priced within guidance.

Moody’s Investors Service said that it has raised its credit enhancement requirement for CMBS ratings as deals are increasingly structured with exposure to credit risks.