The $153.7 million Peaks CLO 3 also features a high ceiling for triple-C-rated loans and for "current-pay" loans that meet one or more criteria for default.
-
Ford Motor Credit added a one-time seven-year revolving period to its previous open pool of auto loan receivables.
January 11
-
At Ginnie Mae, Michael Bright worked closely with Congress to fight churn in VA mortgages; he plans to bring the same collaborative approach to the Structured Finance Industry Group.
January 10
-
More than 45% of collateral for the $254.4 million CPSART 2019-A are either "preferred," "super alpha” or “alpha plus”; that's up from 42.4% of collateral for the prior deal.
January 10
-
Affirm, which for six years has plied its trade as a point-of-sale lender, wants to move deeper into banking by offering a high-rate savings account.
January 10
-
Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.
January 10
-
CarMax Superstores' first $1.2B-$1.5B prime loan securitization of 2019 has its lowest concentration to date of passenger vehicles in its nearly 20 years selling notes backed by receivables.
January 10
-
Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.
January 9
-
The latest deal from the sponsor's DRIVE platform for deep subprime loans benefits from recent improvements in underwriting; both S&P and Moody's have lowered loss expectations.
January 9
-
S&P sees some potential integration risk that could materially affect the business being reinsured; in November it lowered its issuer credit ratings and financial strength ratings on Aetna.
January 9 -
The $748 million Navient Student Loan Trust 2019-1 looks a lot like the four FFELP deals the sponsor completed in 2018; it is backed by a mix of rehab (19.6%) and non-rehab (80.4%) loans.
January 9
-
Z Capital's $350M CLO can hold up to 50% of its assets in risky triple-C rated assets, giving it a wide cushion to bulk up on the growing supply of single-B loans near the CCC-rating threshold.
January 9
-
The agency refuted claims by the Conference of State Bank Supervisors that the OCC was overstepping its authority.
January 8
