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Friday, 20 October 2017

Joy Wiltermuth' s stories

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  • Graduation ceremony

    Student loan ABS ratings at risk due to settlement: Fitch

    Ticker | 25 September 2017

    A dozen bonds issued by the National Collegiate Student Loan Trust (NCSLT) roughly a decade ago could be downgraded by several notches if a proposed settlement is upheld, Fitch Ratings said in a report on Monday.

  • Hurricane Maria puts US$1bn of CMBS loans at risk: S&P

    Ticker | 25 September 2017

    Hurricane Maria has put nearly US$1bn of property loans in Puerto Rico at risk that were packaged into commercial mortgage bond deals, S&P said in a report on Saturday.

  • A car from Invitation Homes is shown parked outside a rental home

    SEC probes home valuations in mortgage bonds

    Top News | 22 September 2017

    Regulators have asked Blackstone subsidiary Invitation Homes, one of the largest US landlords, to provide information on how it values homes that end up bundled into mortgage-backed bonds.

  • A car from Invitation Homes is shown parked outside a rental home

    REFILE-SEC probes home valuations in bonds

    Ticker | 22 September 2017

    Regulators have asked Blackstone subsidiary Invitation Homes, one of the largest US landlords, to provide information on how it values homes that end up bundled into mortgage-backed bonds.

  • Starwood Waypoint Homes puts new bond on hold

    Ticker | 19 September 2017

    Starwood Waypoint Homes, in a rare move, has put its US$732.6m rental bond deal on hold pending new disclosures that are expected later this week, according to three investors with knowledge of the situation.

  • CommonBond raids Deutsche for new CFO

    People & Markets | 15 September 2017

    Jay Coleman, a Wall Street banker focused on equity raises and initial public offerings, has joined online lender CommonBond as chief financial officer.

  • Heavy wind is seen along Ocean Drive in South Beach as Hurricane Irma arrives at south Florida, in Miami

    Miami ABS meeting shrugs off storm chaos

    Top News | 15 September 2017

    After much debate, the ABS East conference in Miami starting on Sunday will forge ahead, bringing thousands of structured finance pros to Florida after Hurricane Irma.

  • SoFi logo

    SoFi, so popular, hits bump in road

    Top News | 15 September 2017

    Market darling SoFi had to kowtow to the buyside last week, beefing up spreads after the social lender’s founder announced he was stepping down in the wake of a sex harassment scandal.

  • MOVES-CommonBond gets new CFO from Deutsche Bank

    Ticker | 14 September 2017

    Jay Coleman, a Wall Street banker focused on equity raises and initial public offerings, has joined online lender CommonBond as chief financial officer, according to the company’s co-founder David Klein.

  • USA IPOs equity

    Florida's 16 disaster areas home to nearly US$12bn of CMBS debt

    Ticker | 13 September 2017

    Nearly US$12bn of commercial property loans in CMBS deals sit in 16 Florida counties that FEMA declared disaster areas after Hurricane Irma, Kroll said in a report on Tuesday.

  • Social Finance (SoFi) logo

    SoFi hits pause on bond deal: sources

    Ticker | 12 September 2017

    Online lender Social Finance (SoFi) halted a bond sale Tuesday to give the market time to digest the departure of founder Michael Cagney, four people with knowledge of the situation told IFR.

  • Florida

    Bank on fence about ABS conference

    Ticker | 12 September 2017

    Even as organisers say they plan to forge ahead with the annual ABS East conference in Miami starting Sunday, one of the nation’s biggest banks is still on the fence about attending.

  • Auto ABS deals attract scrutiny after Harvey and Irma

    Ticker | 11 September 2017

    Investors are doing more due diligence than usual on new ABS deals hitting the market amid concerns about potential loan exposure to Florida and Houston that have been ravaged by hurricanes in the past few weeks.

  • Sub-prime auto ABS resilient to rising delinquencies: S&P

    Ticker | 11 September 2017

    Ratings on sub-prime auto ABS have remained stable despite rising delinquencies and ballooning auto debt partly because recent securitisations have robust loss buffers, ratings agency S&P said in a report published on Monday.

  • Investors dump Harvey-linked bonds

    Structured Finance | 08 September 2017

    Some investors are ditching commercial property bonds with exposure to Texas amid concerns about losses in the aftermath of Hurricane Harvey.

  • Starwood home rental bond goes slow as Hurricane Irma looms

    Structured Finance | 08 September 2017

    Starwood Waypoint Home is looking to sell US$771.2m of rental bonds over the next few days, but books are building relatively slowly as jitters around Hurricane Irma monopolise the market’s attention.

  • Dunkin' readies US$1.45bn whole business securitisation

    Structured Finance | 08 September 2017

    Donut chain Dunkin’ Brands is marketing a new US$1.45bn whole business securitisation that is backed by franchises in the US, UK and Mexico.

  • CORRECTED-UPDATE 1-Dunkin' readies US$1.45bn whole business ABS

    Ticker | 08 September 2017

    Donut chain Dunkin’ Brands is marketing a new US$1.45bn whole business securitization that is backed by franchises in the US, UK and Mexico.

  • Starwood Waypoint logo

    Starwood home rental bond goes slow as Hurricane Irma looms

    Ticker | 08 September 2017

    Starwood Waypoint Home is looking to sell US$771.2m of rental bonds over the next few days, but books are building relatively slowly as jitters around Hurricane Irma monopolise the market’s attention.

  • Church Volunteers work to remove Hurricane Harvey flood damage from a home in Houston

    Investors dump property bonds linked to Hurricane Harvey

    Ticker | 07 September 2017

    Some investors are ditching commercial property bonds with exposure to Texas amid concerns about losses in the aftermath of Hurricane Harvey.

  • Crisis-era RMBS feels pinch from new litigation

    Structured Finance | 01 September 2017

    Wells Fargo’s recent withholding of major funds from mortgage bond investors opened new wounds in a sector still recovering from aftershocks of the housing crisis.

  • Rescue boats navigate flood waters of Tropical Storm Harvey in Port Arthur

    Consumer ABS ratings with Harvey exposure on review: report

    Ticker | 31 August 2017

    Consumer ABS deals with exposure to damage from Hurricane Harvey in Texas and Louisiana are being monitored for potential rating changes, Kroll Bond Rating Agency said in a report on Thursday.

  • ABS market breezes through summer's end

    Ticker | 31 August 2017

    Bond sellers rarely had it so good in the last days of August when more than US$1.1bn of new asset-backed deals easily cleared the market.

  • Nearly US$20bn of TX property loans have flood risk: report

    Ticker | 30 August 2017

    Commercial properties in Texas with about US$19.4bn of CMBS debt may be at risk of major flooding due to Hurricane Harvey, Morningstar Credit Ratings said in a report on Wednesday.

  • Freddie plans to ACE mortgage approvals

    Structured Finance | 25 August 2017

    Freddie Mac is rolling out an expansion of its big data valuation programme where it will allow mortgage borrowers to forego a formal appraisal as long as they have contributed at least one-fifth of the home purchase price.

  • Big list of pre-crash bonds get strong bids

    Ticker | 24 August 2017

    All of the bonds from a near US$700m list of pre-crash mortgage bonds up for sale on Thursday traded, mostly at a higher price than initially expected.

  • Risks from auto loan losses contained: Kroll

    Ticker | 21 August 2017

    Risks to bondholders in auto asset-backed bond deals are contained even as auto loan losses keep rising, Kroll Bond Rating Agency said in a report on Monday.

  • Freddie to use big data to appraise new home loans

    Ticker | 18 August 2017

    Starting this fall borrowers looking to buy a new home could forego a traditional appraisal as Freddie Mac expands its big data valuation alternative, the housing agency said in a statement on Friday.

  • New lows for last blast of summer ABS

    Structured Finance | 18 August 2017

    Investors flush with cash and confident about the US consumer set new lows on asset-backed bonds ahead of a late-summer lull in issuance.

  • Freddie, Fannie refi programme

    Structured Finance | 18 August 2017

    Fannie Mae and Freddie Mac said last Thursday they will ext

  • CRT bonds will pool loans from new refi program

    Ticker | 17 August 2017

    Fannie Mae and Freddie Mac said on Thursday they will extend more credit to underwater borrowers next year by refinancing higher-risk home loans through a new program.

  • New lows seen on last big blast of summer ABS

    Ticker | 16 August 2017

    Investors flush with cash and confident about the US consumer set new lows on asset-backed bond deals ahead of a late summer lull in issuance.

  • New CMBS price tighter despite heavy supply

    Ticker | 15 August 2017

    New conduit CMBS cleared at tight spreads on Tuesday as investors kept snapping up bonds on commercial properties despite weeks of heavy supply.

  • Retail poses limited threat to structured finance: Moody's

    Ticker | 15 August 2017

    Trouble in the US retail industry poses only a limited risk to the structured finance market, Moody’s said in a report on Tuesday.

  • Household debt sets new record of US$12.84trn: NY Fed

    Ticker | 15 August 2017

    US household debt grew to a new record of US$12.84trn in the second quarter, the Federal Reserve Bank of New York said in a report on Tuesday.

  • Fannie sees promise in Green mortgage bond business

    Structured Finance | 11 August 2017

    Fannie Mae is planning to sell up to two more Green bonds this year consisting entirely of energy-efficient apartment loans after its successful debut offering this week, the agency told IFR.

  • Diamonds

    Investors take a shine to Diarough's diamond-backed bonds

    Ticker | 10 August 2017

    Gem trader Diarough Group added more bling to its new diamond-backed bond deal after increasing its size by US$5m to US$155m.

  • Fitch cuts more RMBS ratings linked to Wells dispute

    Ticker | 10 August 2017

    Fitch slashed ratings on another 348 classes of RMBS that could be impacted by trustee Wells Fargo withholding future bond payments, the credit agency said in a report on Thursday.

  • Demand high for ABS even as consumer debt hits new record

    Ticker | 09 August 2017

    Consumer spending on credit continues to rise and demand for new bonds backed by such debt is showing no signs of abating.

  • An employee holds the largest D colour internally flawless diamond for auction offered by Sotheby's

    Diamond-backed trade talked at 5%-6% yields

    Ticker | 08 August 2017

    Gem trader Diarough Group is looking to sell a novel bond deal backed by rough and polished diamonds at yields in the 5%-6% range, according to deal documents viewed by IFR.

  • Junk subprime auto ABS spreads at record lows: report

    Ticker | 07 August 2017

    Junk-rated tranches of new subprime auto bond deals are pricing at record tights amid unabated enthusiasm for the asset class, Wells Fargo analysts said in a report on Monday.

  • Diamond-backed bond deal hits the road

    Structured Finance | 04 August 2017

    Diamonds might be a girl’s best friend but a major gem trader is betting that asset-backed bond investors will take a shine to them too.

  • NRZ shrugs off battles to plan more deals

    Structured Finance | 04 August 2017

    New Residential Investment is forging ahead with plans to bundle decade-old mortgages into new securities, shrugging off worries about pending legal battles over the legacy debt.

  • An employee holds the largest D colour internally flawless diamond for auction offered by Sotheby's

    Diamond-backed bond deal hits the road

    Ticker | 03 August 2017

    Diamonds might be a girl’s best friend but a major gem trader is betting that asset-backed bond investors will take a shine to them too.

  • Demand for off-the-run ABS still hot

    Ticker | 01 August 2017

    Strong demand led Element Fleet Management on Tuesday to double the size of its latest ABS to US$1bn and pull in pricing.

  • ABS gets ahead of August slowdown

    Structured Finance | 28 July 2017

    ABS issuers made a dash to price US$4.6bn of supply in the week before many investors and bankers begin taking time off in August.

  • Prosper hires banks for next consumer loan ABS

    Structured Finance | 28 July 2017

    Online lender Prosper Marketplace has hired Credit Suisse and Jefferies to sell a US$501m bond issue backed by its consumer loans, according to deal documents viewed by IFR.

  • Car underwater

    Sub-prime auto bets pay off

    Top News | 28 July 2017

    Investors who bought some of the riskiest sub-prime auto loan bonds last year have racked up windfall profits, as the doomsday scenario that market doubters expected never came to pass.

  • Prosper hires banks for next consumer loan ABS

    Ticker | 28 July 2017

    Online lender Prosper Marketplace has hired Credit Suisse and Jefferies to sell a US$501m bond backed by its consumer loans, according to deal documents viewed by IFR.

  • ABS makes a dash before August slowdown

    Ticker | 27 July 2017

    ABS issuers made a dash to price US$4.6bn of supply in the week before many investors and bankers begin taking time off in August.

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