Securitization

The Fed chair said actively selling securities will become necessary as it looks to reduce its balance sheet, but not anytime soon.

Amid reduced M&A activity, U.S. middle-market borrowers and investors in asset-backed securities are trying to reset and figure out where the right valuations levels are, says Sengal Selassie, CEO of Brightwood Capital Advisors, a lender and issuer of CLOs.

Data as of Mar. 31, 2022. Dollars in thousands.

Questions remain around switching benchmarks that could result in unexpected refinancings

Some of the riskiest loans given to millennials and Gen Z shoppers for clothes and electronics — and neatly repackaged for investors — are dropping in value.

The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.

On Dec. 31, 2021. Dollars in thousands. (Dec. 31, 2021)

On Sep. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

On Mar. 31, 2021. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit union securitizations nearly four years ago.

The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.

The Swiss banking giant is expected to set aside $850 million for litigation costs stemming from a long-running dispute with bond issuer over the sale of mortgage-backed securities.

A program that lets firms bundle Small Business Administration loans is on hold while Congress spars over a new budget. The impasse is causing headaches for banks that rely on loan sales for fee income.

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

On Jun. 30, 2020. Dollars in thousands.

Morgan Stanley’s $7 billion purchase of Eaton Vance marks the latest wager that finding a big partner is critical to survival in the asset management industry.

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC.