A three-judge panel for the D.C. Circuit Court of Appeals has sided with the LSTA in its lawsuit seeking to reverse rules requiring CLO managers to hold "skin in the game" under Dodd-Frank.
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The legislature has passed a bill that would allow lenders to make installment loans that, in many cases, would be more costly than payment loans. If Gov. Rick Scott signs it, Florida would become the first state to pass a law designed to blunt the impact of the CFPB’s crackdown on high-cost consumer loans.
March 9
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Over 40% of the collateral is from two 2016-vintage transactions that were recently "collapsed" because proceeds from liquidations had slowed. Then there's the exposure to Puerto Rico.
March 9
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Credit enhancement on the senior tranches of notes to be issued is unchanged from the prior six deals, at 24.38%; monthly payment rates by dealers continues to trend upward at 40.5%.
March 8
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The performance of outstanding transactions issued via the Capital Auto Receivables Trust platform is weakening, so rating agencies are demanding additional investor protections.
March 8
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The pool of 41 mid-life aircraft backing Sapphire I has a weighted average age of 12 years and is "largely liquid," according to Fitch Ratings, and there does not appear to be any sort of negative asset selection.
March 8
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Discover's master trust is issuing $800 million in its first deal since October; Scotiabank has priced US$600 million in card receivables in its first cardholder account securitization in two years.
March 8
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Credit enhancement on the senior notes has risen to 36.25% from 28.7% to account for higher expected losses on the collateral; Kroll's base-case range is for 6.75% to 8.75% over the life of the deal.
March 8
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It's the busiest start to the year, post-financial crisis, for collateralized loan obligations, according to Thomson Reuters, and nearly 60% higher than the pace set in the first two months of 2017.
March 7
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Moody's thinks that the risk of early lease terminations is "marginal," since only 0.5% of the vehicles in the collateral pool are old enough to be impacted by bans in place in several European cities.
March 7
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The success of the government-sponsored enterprises' credit risk transfer programs shows that they can be the basis for housing finance reform.
March 7
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Previously, the rating agencies had capped their ratings at double-A, primarily due to CommonBond’s short operating history; it has only been making loans to borrowers with advanced degrees since 2013.
March 7
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Allstate Investment Management's latest collateralized loan portfolio includes a five-year-plus reinvestment period, and some added leeway on credit metrics and performance tests.
March 6
