By Brian Collins
The narrowing gap between what large and small lenders pay in guarantee fees to Fannie Mae and Freddie Mac has helped the industry's smallest originators grow their share of mortgages sold to the government-sponsored enterprises.
July 2, 2015 – The conduit deal is collateralized by 80 loans that are secured by 147 commercial real estate properties worth approximately $1.46 billion. The loans are underwritten by Natixis Real Estate and Drexel Hamilton.
July 1, 2015 – The $100 million senior tranche of class A notes are rated single-A by Kroll Bond Rating Agency and pay 4.4% a year; an $11 million subordinate tranche of class B notes are rated pay 5.38%.
July 1, 2015 – The largest loan in the pool totals $90 million and is secured by Patriots Park. This loan comprises 9.8% of the entire pool and is fully leased by the U.S. governments General Services Administration, according to Kroll,
July 1, 2015 – The bank expects to do progressively larger auto loan securitizations in the third and fourth quarter; it has issued over $2.5 billion to date.
July 1, 2015 – Three of the nation's largest indirect auto lenders are poised to limit discretionary pricing for dealers after regulators accused them of allowing partners to mark up loans at higher rates to minorities, according to confidential documents.
June 29, 2015 – Tax credits complicate the solar industrys ability to attract capital markets investors. Heres whats being done about it.
June 29, 2015 – The head of Fitch Ratings RMBS group advocates for creating the role of a transaction manager, which he says could help investors be more comfortable with expanding credit.
June 25, 2015 – Despite some silver lining, analysts say the Supreme Court decision upholding "disparate impact" in fair-lending disputes will only embolden activists and regulators to bring more cases.
June 24, 2015 – Several real estate investment trusts have joined Federal Home Loan Banks via their captive insurers; membership gives them a cheap and flexible way to warehouse mortgages, among other things.
June 23, 2015 – The powerful Consumer Financial Protection Bureau is helping to reshape mortgage and payday lending, but its attempts to curb abuses in auto lending have been largely stymied by the clout of car dealers and the fragmented nature of auto finance.
June 8, 2015 – Funding is still expensive compared with U.K. and Dutch deals, but two non-bank issuers, Dilosk and UCI, are both pleased with the execution of their recent deals.
June 4, 2015 – Bank of America scored a legal victory this week for all holders of second liens when the Supreme Court ruled that bankruptcy courts cannot void a second mortgage because it exceeds the value of the home.
May 27, 2015 – The first deal in the U.S. backed entirely by commercial solar assets could come as early as Q3. Boutique shop T-Rex is structuring two securitizations in this nascent asset class.
May 26, 2015 – At a time when regulators, prosecutors and the media have stepped up their scrutiny of subprime auto lending, some in the industry have changed their definitions of key terms in ways that downplay the risks involved.
May 21, 2015 – To avoid either running afoul of the FDIC or potentially ceding market share, the bank has to get some of the loans that it makes off its books, either via whole loan sales or securitization
May 18, 2015 – Student loan borrowers are in serious need of better communication with loan servicers and clearer information about their servicing options, regulators were told last week.
Firm: 3i Debt Management
To avoid either running afoul of the FDIC or potentially ceding market share, the bank has to get some of the loans that it makes off its books, either via whole loan sales or securitizationCurrent Issue