November 19, 2014 – While risk retention will hit smaller managers hard, Oliver Wriedt of CIFC Asset Management, one of the biggest, thinks the potential for consolidation may be overstated. Low management fees and high financing costs make acquisitions less attractive than they have been in the past.
November 26, 2014 – Wells Fargo expects Issuance of collateralized loan obligations is to moderate in 2015, to $90 billion; that compared with $105 billion in the first 10 months of 2014.
November 26, 2014 – The judgment signed yesterday by U.S. District Judge Max O. Cogburn Jr. in Charlotte, North Carolina, bars Bank of America from using deceit or fraud to sell securities. The lender agreed to the terms without admitting or denying the allegations of the complaint.
November 25, 2014 – J.G. Wentworth has completed a $207.5 million of securities backed by structured settlement receivables in its third transaction of 2014.
November 19, 2014 – The market for collateralized loan obligations hit an all-time high in 2014 but the onset of a number of regulatory requirements, including the Volcker Rule, mean the good times may not last long.
November 13, 2014 – John Lapham, co-head of leveraged finance at PineBridge Investments, thinks that the ranks of CLO managers could start to thin well before risk retention rules take effect in 2016.
November 10, 2014 – Morningstar thinks that there is a way to stop issuers of asset-backed securities from shopping around for the best ratings: compel them to publicly disclose the level of credit enhancement required by each rating agency for each tranche.
November 14, 2014 – Not only do these deals reduce the danger that taxpayers could be forced to cover the GSEs' losses, they may help make mortgages more affordable.
November 11, 2014 – Will government-sponsored enterprise reform be affected by Republicans taking back control of the Senate? The first reactions from the industry and punditry indicate there are three possibilities: yes, no, and we can't be sure.
November 7, 2014 – Investors in catastrophe bonds are broadening their exposure by taking on multiple perils and increasing the time period during which claims can be included in coverage. Often they are doing so without any additional compensation.
November 7, 2014 – Why is Social Finance the only peer-to-peer lender to secured credit ratings for its deals? It originates its own loans and has shifted away funding from retail investors in favor of institutional investors.
November 5, 2014 – Ocwen Financial's regulatory woes have put future transfers of mortgage servicing rights on hold; but securitization of advance receivables had already stalled while Standard & Poor's updated its ratings criteria for the asset class.
November 3, 2014 – The middle market that the firm plays in is less liquid and less transparent than the broadly syndicated loan market, so picking up primary loans is key for a collateralized loan obligation. And what better way to do that than to have your own origination platform?
October 27, 2014 – Buy-to-rent mortgage specialist B2R behaves like a commercial lender when underwriting loans to small-to-medium landlords, an approach that differs from the residential lens the GSEs use for individuals looking to buy rental properties.
October 22, 2014 – Risky mortgage lending may have triggered the financial crisis, but final risk retention rules go much easier on mortgages than securitizations of other kinds of assets.
October 23, 2014 – Rising interest rates could reduce an important form of credit enhancement for U.S. collateralized loan obligations, potential putting them at risk for downgrades in their credit ratings, according to Moodys Investors Service.
October 21, 2014 – Regulators are finally ready to unveil a final risk retention rule, but whether the new regulation provides enough certainty to jump start the mortgage securitization market is an open question.
October 17, 2014 – The student lending industry argues that the problems the CFPB is finding in the market are more related to federal loans than private ones and disagrees with the agency's push to allow student loans to be charged off in bankruptcy,
October 9, 2014 – A New Jersey bankruptcy judge argues that Congress should amend the bankruptcy code to permit borrowers to discharge student loan debt if their net monthly income is insufficient.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Investors in catastrophe bonds are broadening their exposure by taking on multiple perils and increasing the time period during which claims can be included in coverage. Often they are doing so without any additional compensation.Current Issue