By Andy Peters
President-elect Donald Trumps pick for Treasury secretary said he did not support a plan known as recap and release for returning Fannie Mae and Freddie Mac to the private sector, clarifying earlier remarks that had caused confusion about the incoming administrations housing finance agenda.
January 20, 2017 – Santanders Drive Auto Receivables Trust 2017-A (DRIVE) is the eighth overall deeper subprime deal issued through the lenders DRIVE platform, but presents the heaviest risks of this or any other subprime ABS in the market, according to presale reports.
January 19, 2017 – As with the sponsor's previous deal, in July 2016, exposure to obligors in the oil and gas industry is low, while the mix of vehicles has shifted to include more trucks.
January 19, 2017 – COAT 2017-1, underwritten by lead bookrunner Barclays, is largely consistent with previous transactions involving CAF-originated loans through 169 CarMax superstores in 84 U.S. markets.
January 18, 2017 – Things are looking somewhat more optimistic than they were before, said IACPM executive director Som-lok Leung. The Fed is certainly a part of it. Its only going to raise rates if they believe things are continuing to look better.
January 18, 2017 – SoFi is plotting its mortgage blitz following a bruising year for so-called marketplace lenders, in which investor demand dried up for the loans made on these online platforms typically unsecured personal loans.
January 8, 2017 – The face of U.S. student loan debt is usually an underemployed twentysomething. But increasingly, the burden of paying for higher education is falling on older Americans.
January 5, 2017 – Proponents of "recap and release" misread the political risks and the depth of interest that key lawmakers have in determining the long-term future of Fannie Mae and Freddie Mac
January 4, 2017 – The performance of aircraft, railcar and auto fleet lease securitizations will continue to benefit from steady, if modest economic growth; however, anemic growth in global trade will be a negative for bonds backed by container leases.
January 3, 2017 – Despite mounting losses, credit ratings agencies maintain a steady-but-cautious outlook for subprime auto loan securitization portfolio performance in 2017.
December 28, 2016 – A recent piece making light of GSE recapitalization is dangerously misleading, according to the Executive Directors of the Community Mortgage Lenders of America and Community Home Lenders Association.
December 27, 2016 – Commercial real estate markets should continue to improve in 2017, though it remains to be seen how big of a role mortgage bonds will play in financing going forward.
December 26, 2016 – Though some may dispute the magnitude of the issue, when credit enhancements can no longer absorb the impact of borrower defaults, cash flows will become constrained and bondholders and trusts will suffer losses.
December 22, 2016 – The frenzy of issuance in November-December may have pulled forward activity that might otherwise have occurred in January; however strong demand from overseas investors should keep spreads tight.
Treasurer, Head of Asset Management
Firm: NewStar Financial
The wireless carrier, though only rated single-B, has more leeway from existing investors to enter into a transaction like this than even some investment-grade companies.Current Issue