Dec 19, 2014 – The five-year class A notes, rated ‘A’ by Kroll Bond Rating Agency, yield 4.88%; that's more than the senior class on another recent deal backed by Embraer jets.
Dec 19, 2014 – As expected, federal regulators are delaying implementation of the Volcker Rule's prohibition on bank holdings of collateralized loan obligations, giving institutions an additional two years to comply.
Dec 19, 2014 – The two transactions refinance over $4.6 million in loans secured by smaller rental properties in Los Angeles, California.
Dec 18, 2014 – She spent more than 20 years at Fannie Mae, most recently as head of the single-family credit guaranty business.
Dec 18, 2014 – Rye Harbour CLO is the investment manager's third European collateralized loan obligation; it also manages 11 U.S. CLOs.
Dec 18, 2014 – Fitch Ratings could put 20 commercial mortgage securitizations under review for a possible downgrade if Congress fails to renew government-sponsored terrorism reinsurance.
Dec 18, 2014 – The $178.6 million class A notes have an average life of 1.21 years and are rated ‘Aa2’ by Moody’s and 'AAA' by DBRS; in a press release published Wednesday the company disclosed that they yield 1.49%.
Dec 17, 2014 – European banks have begun re-marketing securitizations that they had retained as collateral for central bank funding, and this is expected to accelerate in 2015.
Dec 17, 2014 – The $352.7-million J.P. Morgan Seasoned Mortgage Trust 2014-1 is backed by prime loans originated from 2004 to 2007 by pre-BofA Merrill. A strength includes high quality borrowers, a weakness is that the were all interest-only for first ten years - amortization will bump up payments.
Dec 17, 2014 – Lorillard’s pending acquisition of Reynolds American shrinks the number of original manufacturers participating in the Tobacco Master Settlement Agreement to 2 from 3. But payment volume will stay the same.
Dec 17, 2014 – Cantor Fitzgerald hired Gary Wang and Karl Partch as managing directors in whole loan sales and trading. The hires reemphasize Cantor’s place in the whole loan trading space.
Dec 17, 2014 – The deal from a subsidiary of Reinsurance Group of America is linked to 2.65 million life insurance policies originated between 2006 and 2010.
Dec 17, 2014 – Based on a review of about 700 U.S. CLO’s rated by S&P, the average exposure to energy companies is only about 3.3%; that’s a much lower concentration than these companies have in overall junk bond and leveraged loan markets, at 17%.
Dec 17, 2014 – The benchmark super senior, 10-year ‘AAA' notes sold at a spread of 95 basis points over swaps, eight basis points wide of price guidance. The notes also priced wider than the last two deals to come to market this month.
Dec 17, 2014 – The new policies cover a combined maximum of approximately $155 million of losses for a portion of the credit risk associated with a pool of single-family loans acquired in the third quarter of 2013.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Unlike their existing risk-sharing programs, which have drawn $12.5 billion of private capital into the mortgage market by referencing $454 billion of mortgages since their July 2013 inception, some of the latest deals transfer the first loss sustained when a homeowner stops making payments.Current Issue