Securitization

BMW plans to launch a CHF 300 million ($318M) Swiss auto lease ABS, Bavarian Sky Europe, Compartment 1; the issuer’s first transaction in the Swiss market.

European banks and vehicle manufacturers are increasingly funding auto lending through the securitization market, according to Standard & Poor's report.

Sallie Mae is marketing its second private student loan-backed securitization of 2013 via the $851 million SLM Private Education Loan Trust 2013-B.

Nelnet plans to issue a $765 million Federal Family Education Loan Program (FFELP) loans-backed securitization that also includes 24.6% of rehabilitated loans.

Moody's Investors Service is seeking comments from market participants on proposed adjustments to how it evaluates tail risk in residential mortgage-backed securities that do not have compensating support mechanisms.

Mortgage REIT Redwood Trust is readying its sixth private-label securitization of residential mortgages (RMBS) this year, according to re-sale reports from Fitch Ratings and Kroll Bond Ratings.

The Climate Bond Initiative said securitization is an ideal way to unlock further funding for the International Finance Corporation's “green” bonds.

GE Commercial Distribution Finance Corp. plans to issue $442 million of deal floorplan asset backed noted from its GE Dealer Floorplan Master Note Trust, Series 2013-1 structure.

Fitch Ratings is concerned with the spike in issuance of large-loan commercial mortgage-backed securities (CMBS) in the U.S.

Five Ten Capital closed a $100 million financing facility with Deutsche Bank that is backed by mortgages on rental homes, with an eye towards longer term financing for its portfolios of these properties.

First National Holdings is planning an $87.5 million securitization of property tax liens, according to a presale report published by Kroll Bond Rating Agency.

The private student lending market may get a boost from the reset of the Stafford loan rate but that won’t necessarily lead to more securitization of these loans.

Community banks and other small mortgage lenders will have access to a new securitization platform that Fannie Mae and Freddie Mac are going to build over the next five years, according to the GSE regulator.

JP Morgan will issue $505 million of notes backed by the beneficial interests in a pool of four commercial mortgage loans backed by 82 properties.

Paratus AMC formerly GMAC-RFC, priced the senior notes from its £120 million ($183 million) nonconforming deal, Virgil Mortgage No. 1.

Non-performing loans collateralized by commercial properties in Germany, the U.K., Ireland and Spain are attracting buyside interest, according to Ernst & Young’s 2013 NPL report.

The Loan Syndications and Trading Association and the Securities Industry and Financial Markets Association have jointly developed a pair of proposals to help collateralized loan obligations comply with the U.S.'s new Foreign Account Tax Compliance (FACTA) tax regulations.

Aspen Reinsurance launched Aspen Capital Markets and appointed Brian Tobben managing director of the newly created unit, according to a company press release.

Wells Fargo and RBS priced the $785.7 million, WFRBS 2013-C13 fixed rate CMBS conduit yesterday at tighter spread levels than earlier April prints.

Issuance of new U.S. collateralized loan obligations is likely to level off after ‘skyrocketing’ in the first quarter, according ot Fitch Ratings.