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Fannie Mae on Wednesday priced a $922m note offering from its Connecticut Avenue Securities (CAS) programme, using a REMIC structure for the first time to allow more investors to participate in the burgeoning credit risk transfer (CRT) market. -
Waterfall Asset Management, a credit-focused hedge fund that specializes in ABS investments, is in the market with what it claims is the first publicly rated securitization of reverse mortgages.
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US CLO debt has held in despite volatile conditions across credit and stock markets, thanks to a steady loan market.
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Tesco Personal Finance, the lending arm of the UK supermarket, is targeting US demand with a new dollar mandate from its Delamare credit card ABS shelf.
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A deal from solar finance company Sunnova that was priced at the end of last week and a first time solar securitization from Hannon Armstrong, announced on Monday, are rekindling the market for solar ABS in the fourth quarter.
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Loan Ranger has dusted off his stetson because something happened at the Loan Market Association’s annual syndicated loan conference that he had never seen before in all his many years covering the loan market: public exercise that wasn’t dancing in Harry’s Bar at 2am after a drinks event.
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The demise of Wonga.com brought the payday lending industry back into the public consciousness. With socially minded investors scrambling to find assets, this industry seems ripe for intervention via social financing.
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The small, but noticeable, downward shift in investor appetite for new issue euro ABS bonds over the past few months has meant that bank syndicates and issuers have had to work a bit harder to cajole investors and get deals done.
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The role of rating agencies in contributing to the 2008 financial crisis should not be forgotten. Inflated ratings on securities that turned toxic played a major part in the build-up of the financial bubble that later burst with costly consequences.
