Merchant financing from Kapitus backs a $150 million ABS
Kapitus funds receivables through two revolving securitizations totaling $575 million, and a $230.1 million warehouse line of credit from Truist, which matures in June 2027.
Securitization
Goldman’s latest RMBS of PRET mortgages raises $390.3 million
PRET 2026-RPL2 uses a sequential repayment structure, although the notes will not advance any principal and interest from delinquent loans.
Lobel’s latest subprime auto ABS pool raises $223.8 million
Borrowers in the pool had a non-zero weighted average credit score of 608, with a 112.12% loan-to-value (LTV) ratio.
PennyMac brings $415.7 million in RMBS to market
The notes are expected to pay coupons including 5.00% on the A6 through A30 tranches of notes, and 6.13% on the B1 through B6 notes.
Lendmark Financial floats $300 million in ABS
The weighted average, base-case annualized gross loss declined from 11.78%, from 11.86%, because of minor changes in its assumptions of pool segment defaults.
Tropical Smoothie Café whips up $270 million in ABS
The whole business deal, built around a master trust structure, will be repaid primarily from franchise royalty revenue.
GLS raises $1.1 billion from subprime auto notes
The three class A notes, A1, A2 and A3, of GCAR 2026-2 notes will all benefit from hard credit enhancement levels, plus haircut to excess spread of 56.07%.
Park Capital’s latest RMBS raises $380.8 million
Irrespective of the transaction's trigger status, PRKCM 2026-AFC3 will pay the A-1FCF first, until its balance is reduced to zero, and then to the A-1LCF until it is paid down.
Vista Point raises $285.5 million in RMBS from prime mortgage pool
Bank statement underwriting, often applied in situations where the borrower is self-employed, accounted for the plurality of documentation types in the pool, at 44.9%.
SoFi raises $688.5 million from consumer ABS
The deal saw notable changes from SCLP 2021-1, especially an increase in target and initial overcollateralization.
MTP’s issues $386 million in cell tower ABS, its first public deal
Tower Point Capital, the deal's manager, is considered to have one of the largest privately held wireless infrastructure portfolios in the U.S.
Itasca Park sponsors $302.4 million in RMBS
Non-qualified loans are the majority of loans in the pool, 59.2%, while loans exempt from the Ability-to-Repay/Qualified Mortgage rule, represent 35.9%.
KKR makes $1.5 billion equity investment in Vertical Bridge
February's securitization from Vertical Bridge was the sector's largest-ever deal and included the sector's first single-B rated tranche.
TowerPoint Fixed Rate Secured Cellular raises $386 million
Any additional securities that the transaction issues will rank equally with the class that has the same class designation.
Banker’s Healthcare raises $396 million from consumer loans
Initially, the transaction will follow a sequential repayment structure that requires each note class to reach a required overcollateralization percentage before the next subordinate class begins receiving principal.
Music royalty revenue supports Chord Music’s $500 million in ABS
Notes will be backed by royalties from a music catalog containing more than 3,750 works from top artists and songwriters, including Diplo and ZZ Top.
Trump visa curbs derail student lender’s securitization push
Mpower's plan to sell nearly $250 million of bonds hit a hurdle after some potential investors spooked by Trump's policy shifts balked during the effort's early pitches.
Leases in Boston’s Lyrik to support $360 million in CMBS
A five-year-loan is financing Lyrik, a 495,275-square-foot, 20-story office tower, plus 38,012 square feet of retail space in Boston's Back Bay area, a premiere office submarket.
First Help’s pool of subprime auto loans backs $326.8 million ABS deal
Analysts expect the pool to be composed of receivables primarily from franchise dealers that offer indirect financing to consumers often overlooked by traditional financing sources such as banks.
Verus’ latest RMBS deal raises $733.8 million
KBRA noted that debt service coverage ratio underwriting accounted for the largest portion of the loans in the pool, 35.0% and 52% of borrowers in the pool are self-employed.
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