Joy Wiltermuth is a reporter at IFR, where she writes about the securitisation market. In the past five years, she has written about new types of mortgage bond deals hatched since the financial crisis, litigation and regulation. She was previously a reporter for Debtwire in New York and also worked for Institutional Investor.
Three CMBS deals in a row have tapped a little-used horizontal risk retention option that lets big banks package up their loans without keeping any skin in the game.
Ford Motor Credit hit its targets on a new US$1.1bn bond to help stock dealer showrooms with new vehicles after receiving strong demand from investors, a banker familiar with the trade told IFR.
Santander Consumer USA paid up on a new US$1.24bn subprime auto bond Wednesday amid increased scrutiny on the lender’s income verification policies.