Feb 22, 2017 – The portfolio includes $525.5 million of offered certificates, of which only $478.8 million will be publicly offered in a four-tranche offering of senior Class A notes ($422.2 million) with 30% credit enhancement, plus a pair of subordinate series of bonds: a $29.4 million Class B series and a $27.14 million Class C series.
Feb 22, 2017 – Worldwide, Volkswagen has increasingly turned to the securitization markets in the UK, Germany, Spain Switzerland and the U.S. to finance loans and leases since the eruption of its 2015 “diesel-gate” emissions-tampering scandal as traditional financing costs increased due to credit rating downgrades, fines and remediation program expenses for car owners of affected vehicles.
Feb 22, 2017 – Commercial mortgage loan originations in 2017 are expected to increase 3% over last year to a record high, as market fundamentals and property prices remain strong, according to the Mortgage Bankers Association.
Feb 21, 2017 – Credit scoring models—whether from VantageScore, FICO, or any other developer— are designed to rank order consumers. Credits scores—the outputs of those models— are not designed to predict a fixed level of risk.
Feb 21, 2017 – The new program, called KT Certificates, consist of senior notes that are guaranteed and mezzanine and subordinate notes that put investors on the hook for initial losses on mortgages before they are securitized into K-deals.
Feb 21, 2017 – Finsbury Square 2017-1 is a four-class series note structure backed by 2,320 loans secured by residential properties with an average balance of £148,160 and a weighted average interest rate of 4.45% the highest of any recent Kensington securitization.
Feb 21, 2017 – 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).
Feb 19, 2017 – Increasingly, these transactions are being structured to give lessors 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
Feb 19, 2017 – 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.
Feb 19, 2017 – 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.
Feb 18, 2017 – Issuance volume of asset-backed securities for the year through February 17, 2017.
Feb 18, 2017 – Asset-backed securities that priced in the two weeks ended February 17, 2017.
Feb 18, 2017 – Underwriting league tables for asset-backed securities for the year through February 17, 2017.
Feb 17, 2017 – 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.
Feb 17, 2017 – Both lenders on Thursday had debut asset-backed transactions on their particular subprime securitization platform, with both representing the 10th and 11th subprime ABS auto deals to launch in the U.S. securitization market this year – and among seven to roll out this month.
Treasurer, Head of Asset Management
Firm: NewStar Financial
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.Current Issue