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The European Banking Authority’s plans to level the playing field for synthetic securitization could raise the cost of such deals for banks supervised by the European Central Bank’s Single Supervisory Mechanism (SSM), slowing down a market which has boomed in the last two years, and forcing banks to look elsewhere for capital relief. -
Online subprime lender Elevate Credit has tapped former PayPal and loanDepot executive Brian Biglin as chief credit officer.
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PACEfunding, a California-based residential Property Assessed Clean Energy (PACE) finance firm, is looking to drum up interest at next month’s SFIG conference at Las Vegas for its debut securitization.
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Investors are showing endless appetite for consumer ABS so far in 2018, with auto, student and marketplace loan deals meeting with huge demand and subprime auto spreads hitting record tights.
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Tech giants Amazon and PayPal are again set to attend the SFIG IMN securitization industry gathering in Las Vegas next month, with both firms expanding their small business lending efforts and eyeing capital markets financing.
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As London waits to see the Brexit deal that emerges for the UK’s financial services industry, one small part of the sector has quietly received a big legal boost.
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The US CMBS industry is clawing back market share in real estate lending by targeting high end hotel and office properties with single loan deals. But lenders have had to loosen their standards to do so, and the proliferation of single loan deals will concentrate risk in a market designed to diversify it.
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Up to four transactions from marketplace lenders SoFi and Lending Club are slated to hit the market this quarter, including prime and non-prime consumer and student loan refinancing offerings.
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The first CMBS conduit deal was priced on Friday, with spreads at the top of the capital structure falling to post-crisis tight levels, reflecting the rise in the 10 year Treasury rate and the move in swap spreads.
