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Aircraft Lessors Taking New Routes

By Glen Fest

Increasingly, lease securitizations are being structured to give them more flexibility in terms of both the types of collateral and the ability to actively trade aircraft. As a result, transactions more accurately reflect lesssors’ fleets


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Latest News

Ocwen Agrees to Big Penalties to Resume Business in California

– Ocwen Financial has reached a deal with California authorities to resolve allegations that the mortgage servicing firm -- a frequent target of regulators in recent years -- again violated a range of state and federal laws.

Moody’s: GSO/Blackstone Tops ’16 US CLO League Tables

– GSO displaced Credit Suisse Asset Management, which had 27 deals but was still leading the manager tables in terms of overall volume ($16.2 billion).

Kabbage Refinancing its Small Biz Loan Funding Facility

– The new, $500 million transaction is not only larger, enabling Kabbage to make more loans; it will also be backed by a different mix of products, including some with longer terms, according to Kroll Bond Rating Agency.

Kroll Keeps Diamond Resorts Notes Under Downgrade Review

– The Class B notes for both Diamond Resort Owner Trust 2015-1 and 2015-2 were placed on watch last August due to the high levels of loan repurchases or loan substitutions conducted by the trust to replace defaulted loans.

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Featured Articles

Canadian Banks Picking Up the Slack in US Credit Card ABS

– U.S. dollar denominated issuance by Canadian card companies has been rising for three years, and shows no signs of stopping, thanks to cheaper funding costs and increasing comfort levels of buyers south of the border.

Different Kind of Regulatory Relief for CMBS Market

– Even as the Trump Administration moves to loosen regulation, commercial mortgage bonds are enjoying a different kind of relief: Investors like risk retention so much they're willing to pay up for it.

Investors’ Victory in GSE Case May Be Turning Point Against Treasury

– A federal appeals court ruling has opened the door for litigants to challenge a 2012 decision by the U.S. government to sweep all of Fannie Mae and Freddie Mac's profits into the coffers of the Treasury Department

Citi's Servicing Exit Tips the Scale Toward Nonbanks

– The deal is the latest in a series of large servicing acquisitions by the publicly traded New Residential Investment Corp; the New York-based nonbank will pay approximately $950 million and $32 million for Citi's mortgage servicing rights and related advances, respectively.

Shift from Leases to Loans Is Powering Solar Securitization

– Owning may offer consumers more savings than leasing, but loans pose a different set of risks to investors when pooled into collateral for bonds.

Another Refi Wave Overtakes U.S. CLO Market

– Like the refinancing that managers raced to complete before Dec. 24, 2016, this activity is driven by a desire to avoid retaining skin in the game. But this time, managers are taking advantage of a narrow exemption spelled out 18 months ago in a "no-action" letter from the SEC.

Lenders Skittish on MSRs: Try Private-Label Securitization

– In order to address lenders' issues with mortgage servicing rights financing, the industry needs to reconsider its typical securitization structures.

CFPB Suit Against Navient Followed Apparent 'Ultimatum'

– The CFPB alleged that Navient added $4 billion in interest charges to the principal balances of borrowers by enrolling borrowers in multiple, consecutive forbearance plans instead of in cheaper, alternative repayment plans.

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Current Issue

Five Questions Facing the GSEs' Common Securitization Platform

It's unclear how the new political environment will affect the platform's viability or how investors will view the securities issued on it. The next year could determine the project's success and role reshaping the secondary mortgage market.

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