Educational Credit Management Corp. is issuing its third securitization since the start of the pandemic that is collateralized entirely by Federal Family Education Loan Program rehabilitated loans but still carries a negative outlook from Fitch Ratings.
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The extension of the FHA’s willingness to conditionally endorse loans with suspended payments came amid a renewed push by public and private entities to spread awareness of the CARES Act option.
November 30
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The WA FICO of 710 contrasts with the range of 554 to 635 in recent Carvana securitizations centered on subprime borrowers.
November 30
- LIBOR
The move would alleviate near-term risks and potential disruption with legacy securitization and structured-finance portfolios should all key Libor rates cease publication after 2021, as originally planned.
November 30
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The central bank will prolong the life of the Commercial Paper Funding Facility and three other programs while returning congressionally approved funds for five separate facilities that will shut down Dec. 31.
November 30
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Deals, trends and research in structured finance and asset-backed securities for the week of Nov. 20-27
November 29
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The proceeds from funds drawn from the notes will be used to replenish the rental car firm's 2021 fleet as it winds through bankruptcy court.
November 27
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Citigroup's realty arm is sponsoring a $1.06 billion RMBS of highly seasoned mortgage loans with troubled histories. All of the loans were acquired via a Fannie whole-loan auction.
November 25
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The price increase illustrates the extent to which federal rescue programs and a supply-demand imbalance have been counterweights to economic pressures from the pandemic.
November 24
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The insurance company has previously sponsored three securitizations of reperforming/nonperforming loans since 2017.
November 24
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The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.
November 24
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The Structured Finance Association fears Treasury Secretary Steven Mnuchin may release the government-sponsored enterprises from conservatorship ahead of the change in administration, and that doing so could disrupt the mortgage-backed securities market.
November 24
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The issuer included a record volume of loans in the collateral pool for a solar securitization.
November 24
