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BasePoint's technology system, including a proprietary database of historical loan performance data going back 15 years and overseen by 20 data scientists, enables it to fund borrowers daily and apply margin calls every five days.
Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 4-10
Exeter, DriveTime and CPS last week joined a small club of subprime auto lenders sponsoring ABS deals since their TALF eligibility was announced.
They and other firms are seeking to replicate the windfalls many enjoyed in the aftermath of the financial crisis when, by taking advantage of low-cost loans via the Term Asset-Backed Securities Loan Facility, they were able to notch double-digit returns purchasing top-rated ABS as the economy recovered
Bank research reports note the loans will only apply to purchases of CLO notes backed by newly issued leveraged loans. Most recently launched deals involve warehoused or distressed secondary-market loans ineligible for TALF.
