By Glen Fest
The central argument in a federal lawsuit challenging rules requiring CLO managers to keep skin in the game of their deals is that they were never in the game to begin with.This might carry some weight with the U.S. Court of Appeals in Washington, if oral arguments at a hearing last week are any indication.
February 9, 2016 – U.S. Bancorp agreed to pay $10 million while Banco Santander settled for $3.4 million following missteps in how they handled earlier orders from regulators to fix faulty foreclosure practices, according to the Office of the Comptroller of the Currency.
February 9, 2016 – The forthcoming $875.1 million Wells Fargo commercial mortgage pass-through certificates securitization pools a smaller concentration of larger loans but also has more exposure to single-tenant properties.
February 8, 2016 – Santander Consumer USA is offering its second auto loan-backed ABS of the year in a $1.059 billion securitization of its higher-quality new and used subprime loan receivables.
February 8, 2016 – The company, which targets borrowers who can't qualify for a loan from some of its better-known peers, is growing rapidly and it needs to diversify its sources of funding
February 4, 2016 – Bankers are defending the industry's aggressive push into commercial real estate despite regulators' warnings about the growing risk and the potential for losses in that sector.
February 2, 2016 – Kevin Palmer, senior vice president of credit risk transfer at Freddie Mac, hold that the timing of transactions offloading the risk of default on mortgages is less important than what he terms reimbursement risk."
January 29, 2016 – The ongoing deterioration in crude oil prices is raising concerns that the energy sectors distress will drag down CLOs that have overweight debt exposure to exploration/production and oilfield services firms.
January 27, 2016 – The way the Consumer Financial Protection Bureau is regulating the auto finance industry's relationships with dealers is simply wrong both legally and ethically. It's also directly counterproductive to its goal of protecting consumers.
January 25, 2016 – The Federal Housing Finance Agency may face legislation or a lawsuit in the near future as it tries to force captive insurance companies to exit the Federal Home Loan Bank System,
January 11, 2016 – Non-traditional loan facilities offer a number of advantages over equity financing. But these structures must balance a lender's right to foreclose with a manager's ability to stay in compliance with risk retention rules.
January 4, 2016 – Raising capital has been tough for community banks ever since the financial crisis, especially the smallest ones. But a few investment firms have developed structured products that offer community banks a chance to band together to raise needed Tier 1 capital at relatively low cost.
Firm: Broadmoor Consulting LLC
In the news: Marketplace Lenders Are a Systemic Risk
Property Assessed Clean Energy loans have been available in Florida since 2010, but lending, as well as securitization of these loans, has lagged far behind California largely due to a series of lawsuits. A ruling by the Florida Supreme Court in October could change that.Current Issue