Senate negotiators are working on a bill that would place Fannie Mae and Freddie Mac into receivership and replace them with multiple mortgage guarantors, according to sources.
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Grow was previously director of MBS and ABS securities; he replaces VIckie Tillman, who retired in December after overseeing the company's expansion into a diversified credit rating agency.
February 16
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The $525.7 million transaction is backed by stronger collateral than its previous deal, completed in August. But the sponsor still had to increase the credit enhancement on the senior tranche.
February 16
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The all-senior note structure is backed by $812 million in loans, and supported by low 3.5% credit enhancement based on low historical loss rates of John Deere securitizations.
February 15
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For the fifth time since early 2016, American Honda Finance is hedging on oversubscribed demand for its prime-loan receivables-backed notes with a potential upsizing.
February 15
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Despite a legislative push by some senators and other stakeholders to jump-start housing finance reform, efforts to form consensus over a bill once again are stuck in neutral.
February 15
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The new transaction, the $608 million Business Jet Securities, Series 2018-1, is less than half the size of the $1.48 billion deal pulled in September; it also appears to be less risky, by several measures.
February 15
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Onex reset a deal, agreeing to a higher coupon on the AAA-rated senior notes, in order to gain a five-year reinvestment period extension; it substantially narrowed spreads on subordinate notes.
February 15
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The legislation, introduced by Rep. Patrick McHenry, R-N.C., would essentially reverse a court ruling that marketplace lenders say has blocked them from helping more consumers access credit.
February 14
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With few foreclosed homes left to pick up on the cheap, the biggest landlords are buying, or building, new single-family homes to pad their portfolios; mortgages on these properties could show up as collateral in rental bonds.
February 14
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Ares, along with RDA and Park Hotels & Resorts, obtained a $475 million loan from JPMorgan Chase and Wells Fargo; proceeds will refinance a loan securitized in 2014 and return $90 million of equity.
February 14
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It will use proceeds from the issuance of $640 million of bonds backed by wireless tower leases to help repay two deals totaling $755 million that were issued in 2013.
February 13
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Eliminating the requirement that CLO managers keep skin in the game of deals should boost issuance, but this could result in weaker credit quality of collateral as competition for loans increases.
February 13
