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Hotel Property Rebound Faces Years-Long Slog

Reposted from 3.5.21 Bloomberg article: Distressed hotel owners may need to wait until 2024 to see a full rebound. "Hospitality property values are forecast to see swift improvements after 2022 though a full rebound for all types of hotels is years away, according to...

Vegas Mall That Lost 95% of Value Might Be Just the Beginning

Reposted from 1.28.21 Bloomberg article: "The Prizm Outlets mall, about a 40-minute drive south of Las Vegas on the California border, lost 95% of its value in six months. It may not be the last mall to do so..." "It’s the first auction of a property linked to the...

Aircraft-Lease Bonds Draw High Demand as Investors Seek Yield

Reposted from 1.21.21 Bloomberg article: "Castlelake LP, an investment firm whose businesses include buying and leasing out commercial planes, sold $595 million of bonds backed by aircraft on Wednesday, reaching money managers that are hopeful the pandemic-battered...

SESAC sells $560 mln in bonds backed by music royalties

Reposted from 8.2.19 Reuters article: "SESAC, whose clients include Adele, Bob Dylan and Neil Diamond, on Friday priced a two-part $560 million bond offering backed by music royalties and licensing agreements, according to a source familiar with the deal. The largest...

Those Burgers and Tacos Are Actually Backing Bonds

Reposted from 6.10.19 Bloomberg article: "Cumulative gross issuance of whole-business securitizations reached about $35 billion at the end of 2018, compared with about $13 billion just four years earlier, according to S&P. The past two years have been banner years...

JP Morgan sells first non-QM mortgage bond

Reposted from 4.10.19 IFR article: "...JP Morgan sold a roughly US$440m securitization of prime jumbo mortgages that do not meet qualified mortgage rules on Wednesday, a first for the bank according to ratings agencies. The bonds are tied to prime jumbo mortgages that...

Options for Reforming the Mortgage Servicing Compensation Model

Reposted from 4.19.19 Urban Institute article: "...some believe that the structure of servicing compensation must be changed to better align servicing costs and revenues for performing and nonperforming loans in a manner that will improve outcomes for servicers and...

Inflated Credit Scores Leave Investors in the Dark on Real Risks

Reposted from 4.7.19 Bloomberg article: "Borrowers with low credit scores in 2019 pose a much higher relative risk,” said Cris deRitis, deputy chief economist at Moody’s Analytics. “Because loss rates today are low and competition for high-score borrowers is fierce,...

Pre-crisis Non-Agency RMBS Gains Over 11% in 2018

Reposted from 12.26.18 Bloomberg article: "... bonds supported by home loans without government backing have gained more than 11 percent in 2018... Companies broadly have high debt levels relative to earnings after a decade of low rates, but consumers have been more...

Cross River Bank raises $100MM led by KKR.

Reposted from 12.4.18 Alt Assets article: Cross River is the originator for many marketplace lending securitizations by Upstart, Marlette, Affirm among others. Previously the company raised $28MM back in 2016.Services Valuation Advisory Meet the Team News &...

FDIC chair: We need to be preparing for the next downturn

Reposted from 12.4.18 Yahoo Finance article: Comments from FDIC Chair on the next downturn and bank exposure to CLOs. "Regulators are good at regulating the last crisis". Need to look at what is "not obvious right away"Services Valuation Advisory Meet the Team News...

Online lending: US fintechs gain from behaving more like banks

Reposted from 11.12.18 Financial Times article: When Noah Breslow rang the opening bell at the New York Stock Exchange in the week before Christmas 2014, it was a high point — perhaps the high point — for the fledgling online lending industry. The company he ran,...

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