Collateral

KBRA Assigns Preliminary Ratings to RR 17 Ltd

Tuesday, June 15, 2021 - 10:17pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by RR 17 Ltd (RR 17), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by RR 17 Ltd (RR 17), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.
  • RR 17 is managed by Redding Ridge Asset Management LLC (RRAM or the collateral manager) and will have a five-year reinvestment period.
  • The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.
  • The collateral in RR 17 will mainly consist of broadly syndicated leveraged loans issued by corporate obligors diversified across sectors.

KeyBank Goes Live With SmartStream’s Cloud Collateral Management Solution

Tuesday, June 15, 2021 - 8:00am

goes live with its TLM Collateral Management (formerly Algorithmics/IBM Collateral) OnDemand solution - offering coverage for cleared and non-cleared, over the-counter (OTC) derivatives, repo and securities lending margining.

Key Points: 
  • goes live with its TLM Collateral Management (formerly Algorithmics/IBM Collateral) OnDemand solution - offering coverage for cleared and non-cleared, over the-counter (OTC) derivatives, repo and securities lending margining.
  • KeyBank needed to streamline its back-office workflow with a cloud offering that would enhance efficiencies within their collateral management operations - this included all data capture, validation, calculation and processing.
  • Jason Ang, Program Manager, TLM Collateral Management, SmartStream, states: We are delighted to have gone live with KeyBank.
  • SmartStreams Collateral Management OnDemand solution provides physical segregation of client data to ensure that client information is never commingled.

KBRA Assigns Preliminary Ratings to Benchmark 2021-B27

Monday, June 14, 2021 - 7:45pm

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of Benchmark 2021-B27, a $1.1 billion CMBS conduit transaction collateralized by 47 commercial mortgage loans secured by 170 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of Benchmark 2021-B27, a $1.1 billion CMBS conduit transaction collateralized by 47 commercial mortgage loans secured by 170 properties.
  • The collateral properties are located across 29 MSAs, the largest three of which are New York (27.8%), Los Angeles (7.8%), and San Francisco (7.7%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 43.1% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

Helio Lending (a CYIOS Corp. Subsidiary) and Propy Inc. Partner to Offer First Ever Crypto Loan Utilizing NFT Real Estate Asset as Collateral

Thursday, June 10, 2021 - 2:37pm

Now, we are excited to partner with Helio Lending to make history again, as we look to facilitate the first ever NFT real estate loan collateralized by the NFT.

Key Points: 
  • Now, we are excited to partner with Helio Lending to make history again, as we look to facilitate the first ever NFT real estate loan collateralized by the NFT.
  • Real estate as an asset class will become a part of the decentralized finance economy.
  • John O'Shea, Founder of Helio Lending and Chairman of CYIOS Corp. commented, "The partnership between Propy and Helio looks to change the way you can fund real estate purchased and gain maximum diversification of your crypto assets and real estate assets.
  • Having a solution to put your real estate holdings on to a NFT and being able to get a loan against that asset is truly unique and can change the landscape of real estate.

KBRA Assigns Preliminary Ratings to BANK 2021-BNK34

Wednesday, June 9, 2021 - 5:10pm

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 38 classes of BANK 2021-BNK34, a $1.0 billion CMBS conduit transaction collateralized by 56 commercial mortgage loans secured by 71 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 38 classes of BANK 2021-BNK34, a $1.0 billion CMBS conduit transaction collateralized by 56 commercial mortgage loans secured by 71 properties.
  • The collateral properties are located across 31 MSAs, the largest three of which are New York (28.2%), Washington DC (21.7%), and Pittsburgh (6.8%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 43.6% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

BPN Capital Group Announces First Blockchain-based Commercial Mortgage Executed at Miami's Iconic Flagship Retail Corner SLS Lux Brickell

Wednesday, May 26, 2021 - 7:27pm

MIAMI, FL, May 26, 2021 (GLOBE NEWSWIRE) -- BPN Capital Group announced today the first-ever blockchain-based commercial mortgage associated with a property in the iconic SLS Lux Brickell in Miami, FL.

Key Points: 
  • MIAMI, FL, May 26, 2021 (GLOBE NEWSWIRE) -- BPN Capital Group announced today the first-ever blockchain-based commercial mortgage associated with a property in the iconic SLS Lux Brickell in Miami, FL.
  • The collateral of this tokenization is the Flagship retail corner situated at the base of the SLS Lux , a 57 story, 450 unit premier residential condominium and hotel tower.
  • "This is like the moon landing for blockchain," said Mr. Edward Rodriguez, CEO of BPN Capital Group.
  • BPN Capital Group will offer tokens associated with the commercial rental property to investors who qualify under the US Securities and Exchange Commission's Regulation 506(c).

KBRA Assigns Preliminary Ratings to RR 1 Ltd

Tuesday, May 25, 2021 - 11:39pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by RR 1 Ltd (RR 1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by RR 1 Ltd (RR 1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.
  • RR 1 is managed by Redding Ridge Asset Management LLC (RRAM or the collateral manager) and will have a five-year reinvestment period.
  • The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.
  • The collateral in RR 1 will mainly consist of broadly syndicated leveraged loans issued by corporate obligors diversified across sectors.

KBRA Assigns Preliminary Ratings to LMNT 2021-FL1

Monday, May 24, 2021 - 5:17pm

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to eight classes of LMNT 2021-FL1, a $1.0 Billion managed CRE CLO with the ability to reinvest principal proceeds for 30 months, which includes a six-month ramp-up period.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to eight classes of LMNT 2021-FL1, a $1.0 Billion managed CRE CLO with the ability to reinvest principal proceeds for 30 months, which includes a six-month ramp-up period.
  • The transaction will initially be collateralized by 47 whole loans (or participations therein) with an in-trust balance of $686.4 million and $313.6 million of cash collateral.
  • Additionally, the transaction includes a feature which provides the sponsor with the ability to effectuate significant modifications to performing loans.
  • This transaction also includes a par value test and an interest coverage test (the note protection tests).

Velocity Commercial Capital Securitization Ratings Upgraded and Affirmed by Kroll Bond Rating Agency

Wednesday, May 12, 2021 - 1:30pm

b'Velocity Financial, Inc. (NYSE: VEL), (\xe2\x80\x9cVelocity\xe2\x80\x9d or the \xe2\x80\x9cCompany\xe2\x80\x9d), a leading provider of small balance investor loans, today announced that Kroll Bond Rating Agency (\xe2\x80\x9cKBRA\xe2\x80\x9d) has upgraded and affirmed the ratings on the 12 outstanding securitizations issued by its wholly-owned subsidiary, Velocity Commercial Capital, LLC (\xe2\x80\x9cVCC\xe2\x80\x9d).

Key Points: 
  • b'Velocity Financial, Inc. (NYSE: VEL), (\xe2\x80\x9cVelocity\xe2\x80\x9d or the \xe2\x80\x9cCompany\xe2\x80\x9d), a leading provider of small balance investor loans, today announced that Kroll Bond Rating Agency (\xe2\x80\x9cKBRA\xe2\x80\x9d) has upgraded and affirmed the ratings on the 12 outstanding securitizations issued by its wholly-owned subsidiary, Velocity Commercial Capital, LLC (\xe2\x80\x9cVCC\xe2\x80\x9d).
  • Also considered were historical performance of the collateral and the capital structure, including excess spread, servicing advances, borrower equity trends in the underlying properties, and the continually evolving impacts of the COVID-19 pandemic.
  • Velocity originates loans nationwide across an extensive network of independent mortgage brokers it has built and refined over 16 years.
  • For additional information, please visit the Company\xe2\x80\x99s investor relations website at www.velfinance.com .\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210512005369/en/\n'

Advance America: How Much Money Can Car Loan Title Lenders Offer?

Monday, May 10, 2021 - 2:00pm

b"LOS ANGELES, May 10, 2021 /PRNewswire/ --Borrowers who own vehicles and need quick, easy cash can leverage what's known as an auto title loan (also called a car title loan or simply a title loan).

Key Points: 
  • b"LOS ANGELES, May 10, 2021 /PRNewswire/ --Borrowers who own vehicles and need quick, easy cash can leverage what's known as an auto title loan (also called a car title loan or simply a title loan).
  • Essentially, these types of loans allow the borrower to leverage their car as collateral for a loan.
  • This article will explain how title loans work in more detail and how much a borrower can receive from one.\nHow Do Car Title Loans Work?\nCar title loans use the borrower's car as collateral by giving the lender the title to hold onto during the loan term.
  • A free and clear title is often required by car title loan lenders.\nHow Much Can a Borrower Get from a Car Title Loan?\nAccording to the Federal Trade Commission , car title lenders generally offer 25-50% of the borrower's vehicle's value as a title loan.