July 25, 2014 – DLJ Mortgage Capital, a Credit Suisse subsidiary, plans to issue $363.6 million of securities backed by fixed rate residential mortgage loans; over half are designated as safe harbor, or qualified mortgages.
July 25, 2014 – Fitch Ratings expects to assign a BBB+ to the Series 2014A and 2014B securities, which have maturities ranging from June 2015 to June 2049.
July 25, 2014 – Ares Management is readying a $1.26 billion collateralized loan obligation, according to presale reports published by Fitch Ratings and Standard & Poors.
July 25, 2014 – The$130 million class A-4 notes with a weighted average life of 2.26 years priced at a spread of 32 basis points over interpolated swaps.
July 23, 2014 – Decisions about how to apply U.S. swaps trading rules abroad should be based less on fears of risk to the financial system and more on considerations of market integrity, according to attorney Timothy Karpoff.
July 9, 2014 – Solar finance peer-to-peer lender, Mosaic plans to finance solar panels via a solar loan platform that is, for the first time-ever, packaged with residential operations and maintenance (O&M) offered by Enphase Energy, a California based microinverter company.
July 21, 2014 – While the Volcker Rule gets blamed for the sudden lull in CLO issuance in January and February, its now getting some credit for helping one aspect of the roaring comeback of collateralized loan obligations: the infusion of new primary investors in AAA tranches.
July 2, 2014 – Trust-preferred creditors are starting to give deadbeat banks an unenviable choice: negotiate repayment or run the risk of forced liquidation.
June 26, 2014 – To date, most issuance of bonds transferring risk of property damage to investors has come from insurers who are looking for an alternative to reinsurance. Yet climate change is bringing an increasing incidence of floods, windstorms and other kinds of extreme weather, requiring corporate issuers to pay ever more attention.
June 25, 2014 – Securitization of very large commercial mortgages is picking up again, and so is the leverage in some of these deals.
June 22, 2014 – Investors who purchased hundreds of billions of dollars of mortgage bonds issued before the financial crisis will soon find out whether they can proceed with claims that sponsors of these deals misrepresented the quality of the underwriting.
June 19, 2014 – Although the concept of using eminent domain as a tool to address the continuing widespread issue of underwater mortgages is facing serious headwinds as a result of the above factors, the concept is not dead.
July 3, 2014 – CLO managers have been lobbying hard to shape rules requiring them to keep skin in the game. Now they are getting support from an unlikely source the Bank of England and the European Central Bank.
June 10, 2014 – The Florida Hurricane Catastrophe Fund, which reimburses insurers operating in the state for a portion of their catastrophic hurricane losses, has also been contemplating insurance-linked securities as a means of transferring risk as well as fueling competition among potential reinsurers.
June 10, 2014 – Despite headwinds, prospects remain strong for more securitization in the single family rental space, says Wall Street Emprises CEO Alex Kangelaris.
June 4, 2014 – American Bancorp. in St. Paul, Minn., went into liquidation last week when managers of collateralized debt obligations backed by its trust preferred securities pressed for involuntary bankruptcy to collect debt and unpaid interest.
May 30, 2014 – Why market participants still see value in bond insurance, even for an asset class that is not many notches away, ranging between triple-B and single-A, depending on the rating agency and originator.
May 30, 2014 – Issuance of commercial mortgage bonds is falling behind the brisk pace set in 2013, but theres no shortage of demand and terms on deals continue to loosen as the market moves toward a wave of riskier refinancings in the next few years.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Securitization of very large commercial mortgages is picking up again, and so is the leverage in some of these deals.Current Issue