The AAA-rated Class A notes benefit from 61.79% “hard” credit enhancement, which is 30.25 percentage points higher than the senior tranche of the previous deal rated by Fitch, which was rated two notches lower at A.
-
Most providers of property assessed clean energy financing shoot for relatively modest credit ratings in the securitization market. But CleanFund wanted to set itself apart.
July 31
-
The bank is balancing that exposure with a greater amount of property diversity and the the inclusion of three large investment-grade-type loans for UBS Commercial Mortgage Trust 2018-C12.
July 31
-
The bulk of the collateral, 59.6%, was acquired from Impac Mortgage Corp., a lender with a long track record; the remainder, 40.4%, from Sprout Mortgage Corp., a relative newcomer.
July 31
-
Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.
July 31
-
Lawmakers authorized a four-month extension less than a day before the program was set to expire.
July 31
-
The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter.
July 31
-
As a result of the forward flow agreement, Kroll has increased expected recoveries, allowing Upstart to lower credit enhancement on its next securitization.
July 31
-
The $259.1M transaction amortizes features a lower-than-average annual amortization (7.2%) and a longer-than-usual weighted-average list test, and a hiigh concentration of dry containers.
July 30
-
"Administrative" issues from a merger of servicing centers had caused a spike in its 2017 corporate auto-fleet lease delinquencies. But the Toronto fleet manager's late-payment problems have subsided this year.
July 30
-
Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.
July 30
-
Towd Point Mortgage Funding 2018 Auburn 12 Plc is backed by 2,913 properties, all of which were previously securitized in the sponsor’s 2015-vintage Auburn Securities 9 portfolio.
July 29
-
The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands.
July 27
