Securitization

KBRA Assigns Preliminary Ratings to SoFi Consumer Loan Program 2019-2 Trust

Retrieved on: 
Monday, April 15, 2019
Professional services, Banking, Finance, Finance, Economy, Money, Debt, United States housing bubble, SoFi, Social finance, Loans, Kroll Bond Rating Agency, Securitization, Unsecured debt, Credit rating agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by SoFi Consumer Loan Program 2019-2 (SCLP 2019-2).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by SoFi Consumer Loan Program 2019-2 (SCLP 2019-2).
  • This transaction represents SoFi Lending Corp.s (SoFi or the Company) 18th rated securitization collateralized by a portfolio of unsecured consumer loans.
  • SoFi currently originates personal loans through its state licenses or complies with certain requirements where a state lending license is not required.
  • KBRA analyzed the transaction using the Consumer Loan ABS Rating Methodology published on March 28, 2017.

KBRA Assigns Preliminary Ratings to FREMF 2019-K91 and Freddie Mac Structured Pass-Through Certificates K-091

Retrieved on: 
Monday, April 15, 2019
Professional services, Banking, Finance, Mortgage industry of the United States, United States housing bubble, Finance, Economy, Kroll Bond Rating Agency, Credit rating agency, Securitization, Freddie Mac, Money

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to nine classes of FREMF Series 2019-K91 mortgage pass-through certificates and five classes of Freddie Mac structured pass-through certificates (SPCs), Series K-091 (see ratings list below).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to nine classes of FREMF Series 2019-K91 mortgage pass-through certificates and five classes of Freddie Mac structured pass-through certificates (SPCs), Series K-091 (see ratings list below).
  • Freddie Mac will guarantee six classes of certificates issued in the underlying Series 2019-K91 securitization and will deposit the guaranteed underlying certificates into a separate trust that will issue the SPCs.
  • The preliminary ratings are based on information known to KBRA at the time of this publication.
  • Information received subsequent to this release could result in the assignment of final ratings that differ from the preliminary ratings.

Twain Financial Partners Closes Second Rated Securitization of Commercial PACE (C-PACE) Assets

Retrieved on: 
Friday, April 12, 2019
Finance, United States housing bubble, Financial markets, Money, Debt, Securitization, Structured finance, Mortgage-backed security, Financial law

ST. LOUIS, April 12, 2019 /PRNewswire/ --Twain Financial Partners, an investment management firm and active C-PACE lender, announced today it has closed its second rated securitization of C-PACE assets.

Key Points: 
  • ST. LOUIS, April 12, 2019 /PRNewswire/ --Twain Financial Partners, an investment management firm and active C-PACE lender, announced today it has closed its second rated securitization of C-PACE assets.
  • This transaction, arranged by Guggenheim Securities, represents Twain's second C-PACE securitization within the last twelve months and will net proceeds of up to $200 million.
  • C-PACE financing allows for commercial property owners to obtain long-term, fixed-rate financing for energy efficient components of new construction, historic rehabilitation, and retrofit projects.
  • Twain Financial Partners is an investment management firm located in St. Louis, Missouri with more than $4 billion in assets under management within the public-private partnership sector.

KBRA Assigns Preliminary Ratings to Castlelake Aircraft Structured Trust 2019-1

Retrieved on: 
Monday, April 8, 2019
Professional services, Banking, Finance, Finance, Money, Economy, United States housing bubble, Kroll Bond Rating Agency, Securitization, Bond market, Credit rating agency, KBRA, Kroll, Bond credit rating

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes (the Notes) issued by Castlelake Aircraft Structured Trust 2019-1.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes (the Notes) issued by Castlelake Aircraft Structured Trust 2019-1.
  • This transaction represents the sixth securitization for Castlelake,L.P.
  • The portfolio will be serviced by Castlelake Aviation Holdings (Ireland) Limited (theServicer), which is a wholly owned subsidiary of Castlelake.
  • KBRA analyzed the transaction using the Global Aviation ABS Methodology published on November28,2017.

Kabbage Closes $700 Million Securitization

Retrieved on: 
Monday, April 8, 2019
Kabbage, Finance, Money, Structured finance, United States housing bubble, Financial law, Asset-backed security, Securitization, Economy

ATLANTA, April 8, 2019 /PRNewswire-PRWeb/ -- Kabbage, Inc. , a global financial services, cash flow technology and data platform for small businesses, closed the largest asset-backed securitization (ABS) by a small business online lending platform to date for $700 million.

Key Points: 
  • ATLANTA, April 8, 2019 /PRNewswire-PRWeb/ -- Kabbage, Inc. , a global financial services, cash flow technology and data platform for small businesses, closed the largest asset-backed securitization (ABS) by a small business online lending platform to date for $700 million.
  • The securitization brings Kabbage's current debt funding to $940 million, including other existing bilateral credit facilities.
  • The new transaction is issued by Kabbage Asset Securitization LLC, a wholly-owned subsidiary of Kabbage, Inc., and a majority of its proceeds were used to pay down an existing asset-backed securitization transaction.
  • Kabbage is funded and backed by leading investors, including the SoftBank Vision Fund, BlueRun Ventures, Mohr Davidow Ventures and others.

Buckhead One Financial Opportunities Announces $216 Million Securitization of Community Bank Subordinated Debt

Retrieved on: 
Thursday, April 4, 2019
Professional services, Banking, Consulting, Finance, Economy, Finance, Money, Credit, Debt, Neighborhoods in Atlanta, United States housing bubble, Financial law, Securitization, Subordinated debt, Buckhead Village, Buckhead

Buckhead One Financial Opportunities, LLC (Buckhead One), announced its completion of BFNS 2019-1, a $216 million securitization of subordinated debt of community banks from across the United States.

Key Points: 
  • Buckhead One Financial Opportunities, LLC (Buckhead One), announced its completion of BFNS 2019-1, a $216 million securitization of subordinated debt of community banks from across the United States.
  • The securitization comprises 38 individual issuers, with over 90% of the notional value invested in community banks with less than $10 billion in assets.
  • Community bank debt issues often go unrated due to the high cost of obtaining a rating for smaller institutions with correspondingly smaller-sized deals.
  • It allows us to analyze a range of investable information as we navigate the bank subordinated debt market, said Johannes Palsson, CIO of Buckhead One.

KBRA Assigns Preliminary Ratings to CPS Auto Receivables Trust 2019-B

Retrieved on: 
Thursday, April 4, 2019
Professional services, Banking, Finance, Finance, Money, Economy, Structured finance, United States housing bubble, Credit, Credit enhancement, Fixed income, Securitization, Kroll Bond Rating Agency, Credit rating agency, Receivables

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of notes issued by CPS Auto Receivables Trust 2019-B (CPSART 2019-B), an auto loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of notes issued by CPS Auto Receivables Trust 2019-B (CPSART 2019-B), an auto loan ABS transaction.
  • Credit enhancement for the notes consists of the reserve account, overcollateralization, excess interest on the receivables and subordination (except for the Class F notes.)
  • This transaction represents the second term ABS securitization in 2019 and the 33rd since 2010 for Consumer Portfolio Services, Inc. (CPS or the Company).
  • This is the sixth securitization that KBRA has rated for CPS.

KBRA Assigns Preliminary Ratings to START II Ltd. and START II USA LLC

Retrieved on: 
Monday, April 1, 2019
Professional services, Banking, Finance, Finance, Money, Economy, Kroll Bond Rating Agency, United States housing bubble, Structured finance, Bond market, KBRA, GE Capital Aviation Services, Credit rating agency, Securitization, Tranche

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three series of notes (the Notes) issued by START II Ltd. and START II USA LLC (together,STARR II or the Issuers).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three series of notes (the Notes) issued by START II Ltd. and START II USA LLC (together,STARR II or the Issuers).
  • This transaction is the fifteenth third party portfolio securitization serviced by GECAS and the fourth of those rated by KBRA.
  • KBRA notes that an affiliate of GECAS will be acquiring a small minority percentage of the equity in STARR II.
  • Information received subsequent to this release could result in the assignment of final ratings that differ from the preliminary ratings.

Update #1: Saber Partners' CEO Joseph S. Fichera to Speak at Society of Utility Regulatory Financial Analyst Conference

Retrieved on: 
Monday, April 1, 2019
Economy, Finance, Money, Debt, Securitization, United States housing bubble, Financial analyst

Mr. Fichera will lead a distinguished panel of experts to discuss "investor-owned utility securitization."

Key Points: 
  • Mr. Fichera will lead a distinguished panel of experts to discuss "investor-owned utility securitization."
  • Utility securitization is a complex Wall Street financing tool which has been used as an alternative to traditional utility bonds and equity to lower the costs to electricity customers and avoid onerous rate increases.
  • In Utah, the Healthy Environment Alliance of Utah ( HEAL Utah ) recently hired Saber to advise on developing securitization legislation for Utah.
  • SURFA is a nonprofit corporation, founded in 1977 by financial analysts representing a cross-section of the regulatory process.These financial analysts representing government, the financial community, industry and academia founded the National Society of Rate of Return Analysts (NSRRA).

KBRA Assigns Preliminary Ratings to CoreVest American Finance 2019-1

Retrieved on: 
Thursday, March 28, 2019
Professional services, Banking, Finance, Finance, Money, Financial markets, United States housing bubble, Kroll Bond Rating Agency, Securitization, Credit rating agency, Structured finance, Bond, Mortgage-backed security, Kabbage

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to seven classes of certificates issued in the CoreVest American Finance 2019-1 (CAF 2019-1) securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to seven classes of certificates issued in the CoreVest American Finance 2019-1 (CAF 2019-1) securitization.
  • This transaction will be the eleventh multi-borrower, single-family rental (SFR) securitization issued in the U.S. to date and the eighth issued by CoreVest American Finance (formerly Colony American Finance).
  • Information received subsequent to this release could result in the assignment of final ratings that differ from the preliminary ratings.
  • For further details on KBRAs analysis, please see our pre-sale report, entitled CoreVest American Finance 2019-1 Pre-Sale Report , which is published at www.kbra.com .