Non-U.S. banks don't have to sell holdings of collateralized loan obligations that don't comply with the Volcker Rule; U.S. banks still need to divest or amend the terms of such deals, however.
Personal contract purchase leases, which require an initial deposit and a series of monthly payment covering a vehicles depreciation, comprise 20% of the pool of collateral for E-CARAT 5.
In theory, asset-backed investors could be forced to pay for the privilege of holding these securities. Sounds crazy, but it's enough of a concern that several new deals contain provisions putting a floor on interest rates.
DECO 2015-HARP pools three loans secured on 18 residential, office and retail properties located mostly in Dublin, Ireland.
Paragon Mortgages No.22, the issuers first deal in 2015, will pool loans with a weighted average remaining term of 21 years; all of the loans pay only on interest for part of their terms. Only prime borrowers with low amounts of leverage, are included in the pool.
A nascent private bond market in France is expected to grow significantly over the next two years, and could complement, or possibly compete with, securitization of loans to small and medium-sized enterprises.
A policy fight is threatening the recovery of collateralized loan obligations in Europe.
European collateralized loan obligations issued pre-financial crisis are nearing the end of their reinvestment periods, yet the maturities of the loans that serve as collateral continue to shift further out into the future.
The latest generation of European CLOs may expose investors to a risk that didnt exist in most collateralized loan obligations issued before the financial crisis: fluctuations in foreign exchange rates.
With Global ABS around the corner, its only fitting that we turn our attention to Europe.
Firm: 3i Debt Management
State attorneys general continue to aggressively investigate Ocwen Financial's mortgage servicing practices, but they are also mindful that too much enforcement could cripple the company and cause major headaches for millions of homeowners whose loans Ocwen services.Current Issue