JPMorgan Launches Risk-Sharing Deal

JPMorgan Chase Bank is in the market with a mortgage risk-sharing deal that's the same breed as those issued by Fannie Mae under its Connecticut Avenue Securities label.


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Latest News

Two Timeshare Deals Price, Bringing October Tally to $822M

– Two timeshares securitizations totaling $445 million priced Thursday, bringing the total for the month of October to $822 million - one of the busiest months ever.

Two Timeshare Deals Price, Bringing October Tally to $822M

– Two timeshares securitizations totaling $445 million priced Thursday, bringing the total for the month of October to $822 million - one of the busiest months over.

Bank of the West Plots Inaugural Auto Loan Securitization

– The credit quality of the pool of loans backing the deal is strong, but it includes more long-term loans than any recently rated by Moody's Investors Service.

CarMax Preps 4th Auto Loan Deal of 2014

– CarMax Auto Owner Trust (CAOT) 2014-4 will issue a million money market tranche and three tranches with preliminary ‘AAA’ ratings from Fitch Ratings.

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Featured Articles

Single Family Rental Lender B2R Goes with the Cash FLow

– 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.

What Risk Retention Means for CMBS, Autos, CLOs

– 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.

Moody's: Rising Rates Will Reduce Excess Spread for CLOs

– 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 Moody’s Investors Service.

Four Key Questions about Risk Retention Rules

– 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.

Lender Challenge Premise of CFPB's Student Loan Findings

– 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,

Student Loan Debtors Need a Light at the End of the Tunnel

– 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.

Nonperforming Residential Mortgages Going Mainstream

– In another sign of strong demand by investors for nonperforming residential mortgages, the asset class is edging closer to more rated, public securitizations — a rarity in this largely opaque market.

The Next Wave of RMBS Litigation

– Rescap Liquidating Trust, the surviving entity from the bankruptcy of Residential Capital, has filed lawsuits against originators of faulty mortgages that it securitized; it could be a bellwether for other loan aggregators.

Unsolicited Ratings Encouraged More in Theory than in Practice

– Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data — and possibly colored by spite?

CMBS Investors Skittish on Regional Mall Exposure

– Another rash of Sears and affiliate Kmart closings are planned, at least six of which will impact existing CMBS deals, either directly because the stores are a part of collateral backing the deals, or indirectly because the closures will damp mall business.

Can JPMorgan Save the Private-Label MBS Market?

– JPMorgan Chase is planning a fourth quarter spurt of mortgage bond sales that would keep afloat the market for securities not guaranteed by Fannie Mae and Freddie Mac.

European CLO Managers Taking a Shine to Volcker Rule

– The Volcker Rule doesn’t apply on their turf, but European CLO managers are nearly as eager to come in line with the regulation as their U.S. counterparts.

Oregon Standoff Shows Difficulties Escaping Trups Trap

– Albina Community Bancorp nearly managed to wriggle out of a trust-preferred vise, but it could still find itself getting squeezed.

Single-Family Rental Giants Branch Out

– Single-family rental giants are financing smaller players, setting the stage for a new wave of issuance.

Judge Sides with Creditors in Trups Bankruptcy Fight

– A judge has ruled that the involuntary bankruptcy of FMB Bancshares in Lakeland, Ga., may proceed, a decision that could embolden more trust-preferred creditors to pursue a similar strategy.

Making Catastrophe Bonds Accessible to Smaller Issuers

– Jardine Lloyd Thomson Capital Markets allows sponsors of catastrophe bonds to piggyback on its Market Re platform, reducing frictional costs. This makes makes it easier for smaller issuers, or those looking offload a specific risk, to access the market.

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Unsolicited Ratings Encouraged More in Theory than in Practice

Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data and possibly colored by spite?

Current Issue