Structured Finance News

Wells Fargo Names Corporate Banking Chief

– Kyle Hranicky succeeds Mike Johnson, who the company had said in March would retire by June 30.

Synchrony Marketing $660M 3-Yr Credit Card Notes

– Synchrony Credit Card Master Note Trust (Series 2015-2) will issue four tranches of three-year notes with preliminary ratings from Standard & Poor’s.

Fitch Got Ax From Rating Jr Tranches of 2 CMBS: JP Morgan

– JP Morgan believes that Fitch Ratings has been excluded from rating the junior tranche of two commercial mortgage securitizations after demanding more credit enhancement.

Iowa Plans Bonds Backed by Mix of Private, FFELP Student Loans

– The Series 2015-A consists of a single class of notes with a preliminary ‘A’ rating from Standard & Poor’s

Scorecards

– Asset backed securities that priced in the two weeks ended May 1, 2015.

ABS Manager Rankings

– Underwriting league tables for asset backed securities for the year though May 1, 2015.

ABS Totals

– Issuance of ABS, MBS and CMBS for the year through May 1,2015.

Monroe Capital Prices its 1st Broadly Syndicated CLO

– Like the middle market lender's previous deal, Monroe BSL CLO 2015-1 complies with European risk retention requirements.

SoFi Expands Lending to Parents of Students

– Marketplace lender Social Finance has expanded its education loans to parents of students in 49 states and the District of Columbia.

CarMax Readies Another $1 of Used Auto Loan ABS

– The credit quality of the collateral backing CAOT 2015-2 is slightly weaker than that of the used car retailer’s previous four transactions, but this is offset by an increase in credit enhancement.

Connecticut Green Bank Eyes $50M PACE Bond

– The bank has sent out an RFP on arranging a bond backed by commercial PACE loans it has originated. The securitization, for at least $50 million, would be the originators's second.

Ocwen, Assurant Near $150M Settlement in Class Action Lawsuit

– Ocwen Financial and Assurant have reached an agreement to settle charges that the embattled mortgage servicer profited from kickbacks on force-placed insurance policies with struggling homeowners.

May CMBS Conduit Pipeline Builds with Three Deals

– Credit Suisse is back with a 2nd deal from its CSAIL 2015 series; Deutsche Bank and Cantor Fitzgerald’s are marketing COMM 2015-CCRE 23 and Wells Fargo is marketing WFCMT -C28.

Crown Castle Marketing $750M of Notes Backed by Tower Leases

– Crown Castle Towers LLC Series 2015-1 and 2015-2 will each issue approximately $375 million of notes; the allocation between the two series has yet to be determined.

CLO Market's Wild Ride May Be Near an End

– CLO issuance has been surprisingly robust in 2015 – but as many industry participants observed at an industry conference in New York last week, it’s likely that the market will be tapping the brakes before the year is out.


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