Both Kroll and S&P expect losses on collateral in the subprime consumer lender's latest deal to be higher than its 2017 deals; Kroll alone assigned a lower rating to the senior tranche.
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FORT CRE 2018-1 will include four loans recycled from the prior deal, including one that Kroll has identified as a loan of concern due to weak operating performance.
December 5
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Democrats on the House Financial Services Committee are expected to shine a spotlight on Trump-appointed regulators, but that light might shine brightest on one agency in particular.
December 5
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Over the past five years, 2nd lien RPL have defaulted at a similar rate to 1st liens, and have prepaid much faster; the senior tranche of notes to be issued has a weighted average life of around 1.5 years.
December 5
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The government-sponsored enterprises sold fewer nonperforming loans in the first half, but the drop-off in the number of sales year-to-year is less severe than it was in 2017 as a whole.
December 5
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The sponsor appears to be paying for the privilege; the deal is structured with a super senior tranche of notes that benefits from considerably more subordination than the senior tranche of its prior deal.
December 4
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Consolidation is coming in the mortgage industry, but a protracted timetable will continue to constrict industry profits.
December 4
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The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials.
December 4
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It's the lessor's first trip to the securitization market since its 2017 acquisition of AWAS, which quadrupled, and significantly diversified, its fleet. The new deal finances 18 primarily narrowbody aircraft.
December 4
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The Democrat, who will likely head the Financial Services Committee, has signaled she'll make expanded housing opportunities for lower-income consumers a top priority.
December 3
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The overall delinquency rate for securitized U.S. commercial real estate loans is now 3.33%, a decrease of nine basis points from the October level, according to Trepp.
December 3
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CleanFund has created a division that helps structure Property Assessed Clean Energy financing to meet a mortgage lender's credit criteria; its also talking to lenders about co-financing the energy upgrades.
December 3
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It’s a trend that bears watching, particularly for holders of the riskiest securities issued in subprime auto securitizations, according to S&P Global Ratings.
December 3
