Servicing

JuneX Capital Partners’ evergreen fund to back AENDRE Group, a new pan European lifestyle and extended stay hotel platform

Retrieved on: 
onsdag, juni 5, 2024
CoStar Group, Acquisition, SACO, Work, STR, Inc, Travel, Servicing, STR, Entrepreneurship, Carbon, Partnership, Life

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Key Points: 
  • JuneX Capital Partners’ evergreen fund to back AENDRE Group,
    One month after the closing of its €100m evergreen fund dedicated to human capital and investment management entrepreneurs, JuneX Capital Partners (“6XCP”) is pleased to announce the backing of AENDRE Group , a newly launched London based hospitality investment and management platform.
  • AENDRE’s mission is to transition carbon inefficient office buildings into green destinations and next generation lifestyle aparthotels.
  • The group seeks to create spaces that attract locals and travellers with an opportunity to experience a better way of life.
  • Coincidentally, these office conversions uniquely lend themselves to lifestyle extended stay, due to their high-quality locations and relatively deep floor plates.

Altisource Announces First Quarter 2024 Financial Results

Retrieved on: 
torsdag, april 25, 2024
Origination (telephony), Delinquent, Depreciation, Real estate, Servicing, Adjustment, ASPS, Growth, Auction

LUXEMBOURG, April 25, 2024 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the first quarter 2024.

Key Points: 
  • LUXEMBOURG, April 25, 2024 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the first quarter 2024.
  • “I am very pleased with our first quarter performance.
  • We generated $4.6 million of Adjusted EBITDA(1), marking our best quarterly performance since the third quarter of 2020, on $36.9 million of service revenue.
  • Mr. Shepro further commented, “We believe our financial results and sales wins demonstrate that we are not waiting for the default market to return to normal or for delinquency rates to rise to achieve growth.

KBRA Assigns Preliminary Ratings to VStrong Auto Receivables Trust 2024-A

Retrieved on: 
onsdag, mars 13, 2024
Banking, Professional Services, Finance, Class, Servicing, Subordination, KBRA, Deposit account, APR, ABS, VSCU

KBRA assigns preliminary ratings to five classes of notes issued by VStrong Auto Receivables Trust 2024-A ("VSTRG 2024-A"), an auto loan ABS transaction collateralized by subprime and nonprime collateral.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of notes issued by VStrong Auto Receivables Trust 2024-A ("VSTRG 2024-A"), an auto loan ABS transaction collateralized by subprime and nonprime collateral.
  • VSTRG 2024-A is the second 144A offering of auto loan ABS for Valley Strong Credit Union (“VSCU”).
  • Initial credit enhancement consists of overcollateralization (“OC”), subordination (except for the Class E notes), a reserve account funded at closing, and excess spread.
  • KBRA considered its operational review of Exeter as well as periodic update calls with the Company.

The EBA publishes its final Guidelines on national lists or registers of credit servicers

Retrieved on: 
tisdag, april 2, 2024
EBA, Guideline, Union, Competence, Document, Address, Servicing, CSD, European, Security (finance)

The EBA publishes its final Guidelines on national lists or registers of credit servicers

Key Points: 
  • The EBA publishes its final Guidelines on national lists or registers of credit servicers
    The European Banking Authority (EBA) today published its final Guidelines on national lists or registers of credit servicers.
  • The Guidelines are addressed to Competent Authorities managing the lists or registers and specify i) the content of the lists or registers, ii) how they should be made accessible, and iii) the deadlines for updating them.
  • Furthermore, the lists or registers should facilitate borrowers’ access to information on complaint handling procedures offered by competent authorities.
  • The Guidelines also set the deadlines by which Competent Authorities have to update the lists or registers, i.e.

Altisource Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
torsdag, mars 7, 2024
Real estate, Growth, Face, Origination (telephony), ASPS, Corporation, Others, Servicing

LUXEMBOURG, March 07, 2024 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the fourth quarter and full year 2023.

Key Points: 
  • LUXEMBOURG, March 07, 2024 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the fourth quarter and full year 2023.
  • “I am pleased with our performance in 2023 as we continue to strengthen our financial position and win new business which has not fully ramped.
  • We improved total company Adjusted EBITDA(2) by $15.7 million compared to 2022 and by $30.8 million compared to 2021,” said Chairman and Chief Executive Officer William B. Shepro.
  • Mr. Shepro further commented, “Turning to 2024, we believe our sales wins, enhanced margins and lower corporate costs position Altisource for strong Service revenue and Adjusted EBITDA(2) growth.

KBRA Assigns Preliminary Ratings to Oxford Finance Credit Fund III 2024-A LP

Retrieved on: 
tisdag, januari 16, 2024
Professional Services, Finance, KBRA, Servicing, Issuer, Fund, Telescopic sight

KBRA assigns preliminary ratings to three classes of notes issued by Oxford Finance Credit Fund III 2024-A LP (the Issuer or Oxford 2024-A).

Key Points: 
  • KBRA assigns preliminary ratings to three classes of notes issued by Oxford Finance Credit Fund III 2024-A LP (the Issuer or Oxford 2024-A).
  • Oxford 2024-A is primarily secured by a pool of senior secured loans co-originated by Oxford Finance Credit Fund III LP (the Fund) alongside Oxford Finance LLC (Oxford or an Originator, and together with the Fund, the Originators), or originated by Oxford and acquired by the Fund from Oxford, to companies operating in the healthcare industry and adjacent markets and serviced by Oxford Finance Advisors, LLC (the Servicer or Oxford Finance Advisors), a subsidiary of Oxford.
  • The Fund will be retaining the equity in Oxford 2024-A.
  • The exposures to Healthcare Loans and Life Sciences Loans are 78.3% and 21.7% of the Statistical Pool Balance, respectively.

KBRA Releases CREFC January Conference 2024 – Day 2 Recap

Retrieved on: 
onsdag, januari 10, 2024
Professional Services, Finance, KBRA, Grey Hairs, Servicing, Lord Abbett, Conference

KBRA releases its Day 2 recap of the CRE Finance Council (CREFC) January Conference 2024.

Key Points: 
  • KBRA releases its Day 2 recap of the CRE Finance Council (CREFC) January Conference 2024.
  • Day 2 of the conference opened with the Servicers and Special Situations Forum, with discussion of topics such as valuation uncertainty, special servicing advances, and reviews of distressed assets.
  • This was followed by additional panels that included three more forums: alternative lenders and high-yield investors, B-piece buyers, and investment-grade bondholders.
  • The day’s luncheon included welcoming remarks from Lisa Pendergast, Executive Director of CREFC, who gave a brief history of CREFC in honor of the organization’s 30th anniversary.

EBA consults on Guidelines on complaints handling by credit servicers

Retrieved on: 
torsdag, november 9, 2023
Insurance, Policy, Wescot Credit Services Limited, Servicing, CSD, European, European Banking Authority, Article, EBA, Hearing, Property management, EU

09 November 2023

Key Points: 
  • 09 November 2023
    The European Banking Authority (EBA) today launched a public consultation on its draft Guidelines on complaints handling by credit servicers under the Credit Servicers Directive (CSD).
  • The proposed Guidelines suggest applying to credit servicers the requirements of the existing Joint Committee Guidelines on complaints-handling.
  • Those requirements include complaints management policy, complaints management function, registration, reporting, internal follow-up, provision of information and procedures for responding to complaints.
  • The draft Guidelines are addressed to competent authorities and specify the requirements credit servicers should comply with when establishing and maintaining effective and transparent procedures for complaints handling from borrowers.

Altisource Announces Third Quarter 2023 Financial Results

Retrieved on: 
torsdag, oktober 26, 2023
ASPS, Traction, Depreciation, EBITDA, Growth, Sale, Real estate, Servicing, Adjustment

LUXEMBOURG, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the third quarter 2023.

Key Points: 
  • LUXEMBOURG, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the third quarter 2023.
  • “I am pleased with our third quarter performance.
  • We generated $874 thousand of Adjusted EBITDA(2), a $4.4 million improvement over the second quarter of 2023 and a $7.3 million improvement over the same quarter in 2022.
  • For the first nine months of 2023, we improved Adjusted EBITDA by $16.1 million compared to the same period last year.

KBRA Assigns Preliminary Ratings to VStrong Auto Receivables Trust 2023-A

Retrieved on: 
torsdag, oktober 5, 2023
Banking, Professional Services, Finance, Servicing, KBRA, Deposit account, VSCU, Subordination, ABS, APR, Class, Bank, Telescopic sight

KBRA assigns preliminary ratings to five classes of notes issued by VStrong Auto Receivables Trust 2023-A (“VSTRG 2023-A”), an auto loan asset-backed securities transaction collateralized by subprime and nonprime collateral.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of notes issued by VStrong Auto Receivables Trust 2023-A (“VSTRG 2023-A”), an auto loan asset-backed securities transaction collateralized by subprime and nonprime collateral.
  • VSTRG 2023-A is the first 144A offering of auto loan ABS for Valley Strong Credit Union (“VSCU”).
  • Initial credit enhancement consists of overcollateralization (“OC”), subordination (except for the Class E notes), a reserve account funded at closing, and excess spread.
  • KBRA considered its operational review of Exeter as well as periodic update calls with the Company.