Pimco faces AAA debt loss after 85% writedown of office complex
Appraised for $471 million in 2019, a judge last month approved the sale of the complex for $70 million clearing the way for the deal to close in the coming weeks.
Finance
The latest Stellantis auto pool will raise $518.3 million
Most of FIAOT 2026-2's assets, 69%, were originated through Stellantis' Captive Program, which allows small business owners to purchase commercial vehicles for personal or business use.
Accelerate Infrastructure raises $450 million
The private placement deal was a huge leap in value from its inaugural securitization in October 2024, when it raised $150 million.
Mayer Brown’s Hogan joins Gibson Dunn as partner
The move solidifies the convergence of securitization, and the techniques that make the deals operate, with other financing solutions.
NAIC considers redefining mortgage loans
Some current residential mortgages could face higher capital charges, prompting a shift into securitization portfolios.
By
John Hintze
Mortgages to well-heeled self-employed back $1.5 billion in RMBS from Verus
Non-qualified mortgages account for 23.1% of the series 2026-7 pool, by balance, and 43.4% of the loans in the pool were made to investors for business purposes and are exempt from the Ability-to-Repay rules.
FIGRE’s HELOC pool supports $321 million in mortgage-backed notes
At the end of the draw term, HELOC borrowers have a repayment period ranging from 10 to 30 years, and customers cannot draw on the HELOCs during the repayment period.
BINOM’s latest non-QM pool supports $328.8 million in RMBS
Almost all five A1 tranches benefit from credit enhancement levels of 26.10%. The A1A tranche, however, has a credit enhancement level of 36.10%.
Fed’s Jefferson: discount window reforms help Treasury market
The Federal Reserve's vice chair outlined the ongoing modernization efforts for the central bank's lending facility of last resort, including coordination with the Federal Home Loan Banks.
Truist sees ABS sales Climbing 15% this year as spreads narrow
New U.S. ABS sales have surpassed $300 billion for a third straight year, with issuance already 11% higher than it was at this point in 2025. Spreads are the narrowest in more than four years.
Wingspire’s third securitization raises $407 million in bonds
The deal's obligor concentrations—its top and top five obligors account for 9.45% and 37.95% of the pool—are reigned in by WEF's focus on mission-critical essential use equipment.
BofA: Add GSE scores to models to predict delinquencies
The release of Fannie Mae and Freddie Mac's internal metrics support this process, but other measures will still be needed, according to Bank of America.
Finegold moves to Vinson & Elkins to lead structured finance practice
Ed Comber, a pioneer in music catalog securitization, also joined the firm as a partner in structured finance and securitization.
Home improvement loans secure $389 million in ABS from GoodLeap
GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.
Pizza Hut eyes bonds backed by franchise fees to aid buyout
A two-part sale was reached in June. Yum China Holdings agreed to buy the China-based business for $1.2 billion, while LongRange acquired the rest for $1.5 billion.
Math instruction centers support $330.5 million in ABS from Mathnasium
To keep cash flowing to the notes, the deal's senior notes have an interest reserve account covering three months' worth of class A note interest payments and fees.
EFMT raises $521 million in ABS, its largest pool since May
Classes A-1FCF through A-1F will repay noteholders on a pro rata basis, while classes A2 through B3 will be repaid sequentially.
Elmwood: Liability management exercises remain top CLO issue
The Elliot-backed manager doubles down on research and expertise to confront market challenges, including tight arbitrage and a looming 2028 debt maturity wall.
By
John Hintze
Mortgage lenders need to keep innovating after Fed hike
The market initially showed relief after the initial confirmation of an anticipated inflation-fighting hike but discussion of a future raise renewed concern.
SoFi’s latest consumer loan ABS, raising $460 million, has higher earners
Most borrowers, 61.2%, fall within SoFi Bank's highest tiers 1 and 2, and they have a WA income of $156,504.That's an improvement from their earnings on SCLP 2026-3.
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