Latest News

Fannie Transfers Risk on $19B of Mortgages to Reinsurers

March 18, 2016 – Fannie Mae offloaded much of the credit risk on $19.5 billion of30-year, fixed-rate mortgages to a group of insurers and reinsurers via two Credit Insurance Risk Transfer transactions.

Element, Apollo Bring Transportation ABS Deals to Market

March 18, 2016 – The Kroll Bond Rating Agency applied provisional ratings Friday to a pair of asset-backed securitizations to Apollo Aviation Group and work-vehicle fleet leasing firm Element Financial Corp.

Avis Marketing $300M in Rental Lease Securitization Notes

March 17, 2016 – Avis Rent a Car is seeking to issue up to $300 million in securitized notes, in one of its smallest securitizations of its rental car leasing contracts in years through the Avis Budget Rental Car Funding (AESOP) master trust.

One Player Noticeably Absent from Citi-Prosper ABS Deal

March 17, 2016 – Moody’s Investors Service, which put three of Citigroup’s securitizations of unsecured consumer loans originated by Prosper Marketplace under review for a downgrade, was not invited to rate the latest offering

• CLOs Unfazed by Valeant Woes
• Citi, Goldman Prep CMBS Backed by BioMed Offices, Labs
• Cerberus Readies 1st Re-Performing Mortgage Bonds of Year
• Octagon Prices $507M CLO
• Ford Returns with 2nd Dealer Floorplan Deal of 2016
• Prosper, HomeAdvisor in Deal on Home Improvement Loans
• Commercial, Multifamily Debt Increased in 4Q: MBA
• JP Morgan Preps One of Biggest RMBS Post Crisis
• Late Payments on Subprime Auto Loans Surpass Levels Seen Post Financial Crisis
• World Omni, Prestige Add Over $1B to Auto ABS Pipeline

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Featured Articles

Blink and You Might Mistake This JPMorgan Deal for a GSE Offering

March 16, 2016 – While the $1.9 billion of bonds are not guaranteed by the government, most of the underlying loans could have been sold to Fannie and Freddie, and the transaction accomplishes the same thing as the GSEs' risk-transfer deals.

For Aircraft Lease ABS, Age is Only a Number

March 16, 2016 – Issuance of bonds backed by aircraft leases is booming as airlines turn to lessors to fill gaps in their fast-expanding fleets in response to falling energy prices and rising passenger traffic. They are increasingly booking the older, less fuel-efficient airplanes in lessor’s fleets, which can now be operated profitably.

CFPB Takes First Step Toward Regulating Marketplace Lenders

March 8, 2016 – The Consumer Financial Protection Bureau's announcement Monday that it is accepting complaints about marketplace lenders is a sure sign it is moving toward regulating the burgeoning industry.

Cracks Emerging in Commercial Real Estate Market

March 4, 2016 – Market volatility and new regulatory burdens are thinning the ranks of commercial mortgage lenders that underwrite loans for securitization. Activity is slowing down as a result, and it is unclear if banks and insurers will fill the void, especially outside the largest cities.

ABS Vegas: Limits Seen for Marketplace Lending

March 2, 2016 – Panelists and attendees at the ABS Vegas 2016 conference conveyed varying levels of doubt about at the prospects for securities backed by consumer and small-business loans originated through online lending platforms like Lending Club, Prosper and Funding Circle.

ABS Vegas: CMBS Issuance Unlikely to Pick Up Anytime Soon

March 1, 2016 – Issuance of commercial mortgage bonds has gotten off to a slow start this year, and the pace is unlikely to pick up soon, as origination of loans used as collateral has slowed.

ABS Vegas: Junk Bond Market’s Pain is Esoteric’s Gain

March 1, 2016 – Esoteric asset classes such as aircraft leases and whole business securitization are starting to attract more attention from traditional investors in high yield corporate bonds.

ABS Vegas: Comeback for 'Print and Sprint' CLOs?

March 1, 2016 – The sharp selloff in leveraged loans has created opportunity for some CLO managers, particularly those with deep pockets. Managers that can quickly acquire loans at a discount in the secondary market can still make money bundling them into collateral for bonds.

ABS Vegas: El-Erian on Low-Growth, Liquidity, Instability

February 29, 2016 – To Mohamed El-Erian, Donald Trump’s rising popularity and a liquidity-boosting move by China’s central bank are not wholly isolated events.

Marketplace Lending's Big Investors Grow Anxious

February 25, 2016 – The go-go days of marketplace lending have screeched to a halt in recent weeks, as anxiety spreads among the big-money investors who fueled the sector's rapid growth.

Can Blockchain Tech Really Unclog the Capital Markets?

February 23, 2016 – Well, something has to. For proponents of modernization and greater efficiency in the syndicated loan, bond, swaps, and private placement markets, it’s well past time to put investors, banks, brokers and borrowers on the same technological page.

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