Top CRE lenders launch CMBS with increased risks
Three major commercial mortgage lenders have teamed up again this year to securitize $871 million in properties in a CMBS deal that provides investors with a highly concentrated loan pool and higher leverage.
(Full story here.)
CKE Holdings drives $400 million ABS deal to successful finish
The franchisor and operator of restaurants under the Carl's Jr. and Hardee's brands, CKE Holdings priced a $400 million transaction below pricing guidance that slightly increases the private-equity-held company's leverage.
(Full story here.)
Genesis Financial's third securitization faces challenging environment
Genesis Financial Solutions is pursuing a $135.9 million securitization of credit card receivables, including riskier point-of-sale credits that should provide investors with attractive spreads.
(Full story here.)
Forborne mortgages have similar traits to those likely to default
A Freddie Mac study of loans in forbearance from 2017 and 2020 found that, over both periods, borrowers had low credit scores and high debt-to-income ratios.
(Full story here.)
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Reckoner to launch risk retention financing for securitizations
Nearwater Capital alums join competitors to service the financing industry niche, which will include CLOs sold to European investors.
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Global bonds set for worst week in a month as U.S.-Iran risks rise
The bond selloff reflects mounting concern that prolonged disruption to energy supplies will keep inflation elevated, hindering central banks from lowering rates.
Treasury yields reach weekly highs as inflation risk mounts
Meanwhile, the February US employment report to be released Friday is expected to show deceleration in job growth, potentially reviving the case for Fed rate cuts.
Top SBA lenders left in the lurch by government shutdown
Top SBA lenders are warning about the impact of a prolonged shutdown. NewtekOne skipped providing fourth-quarter guidance after its CEO said the situation was too cloudy to forecast.
CRE but without much risk: A Florida bank finds a new niche
Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.
