Unusually for a debut transaction, the $329.7 million M360 2018-CRE1 will be actively managed: For the first 12 months after the closing date, funds from repaid principal can be used to purchase new loans, subject to eligibility criteria.
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Westlake's $800 million offering features increased exposure to loans sourced through a relationship with Ally Bank; CAC's $398 million deal is notable for having less seasoned collateral.
August 9
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The initial portfolio for the $373.4 million deal consists of 55 engines and a single airframe, which represents 0.3% of the pool; airframes could rise to 10% during the reinvestment period, however.
August 9
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Rather than set a new date, the trade group will supplement the agenda at a residential mortgage finance symposium to take place in New York in late October.
August 9 -
AmeriHome GMSR Issuer Trust, consists of $155 million of fixed-rate, five-year notes and $500 million of two-year variable funding notes; it is modeled on deals by PennyMac.
August 8
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The mortgage servicer plans to add PHH advance receivables to the collateral once the acquisition closes, though these will only account for around 6% of the total pool.
August 8
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The House Financial Services Committee has scheduled an FHFA oversight hearing for September in the wake of waste, fraud and abuse allegations.
August 8
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The $423.2 million Master Credit Card Trust 2018-3 consists of three tranches of notes maturing in January 2022, one floating-rate and two fixed-rate.
August 8
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The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.
August 7
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The biggest impact may be to focus the administration’s efforts on selecting a nominee to succeed Director Mel Watt, whose term ends in January.
August 7
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Though not heavily indebted, the 1.5 million-square-foot Fair Oaks Mall has anchored by department stores that have announced store closures, and has below-average inline sales.
August 7
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The online small-business lender was aided by loan growth, wider margins and stable credit trends. Its shares surged by 25% after second-quarter earnings were announced.
August 7
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Conn’s has increased the credit enhancement on its latest consumer loan securitization to account for rising losses on its managed portfolio, according to rating agency presale reports.
August 7
