Collateral

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

Retrieved on: 
Wednesday, May 12, 2021
Banking, Professional services, Finance, Money, Finance, Loans, Economy, Securitization, Mortgage broker, Loan servicing, Mortgage loan, Collateral

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?

Retrieved on: 
Monday, May 10, 2021
Money, Finance, Loans, Economy, Title loan, Collateral, Mortgage underwriting in the United States, Loan origination

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.

CYIOS Corp. Completes Acquisition of Crypto Lending Platform and CeFi Aggregator, Helio Lending

Retrieved on: 
Friday, May 7, 2021
Money, Finance, Articles, Decentralization, Cryptocurrency, Financial technology, Uberisation, Escrow, Collateral

Company Announces Hiring of Director of Communications, Public Relations and Sponsorships

Key Points: 
  • The transaction is an all-shares restricted stock transaction with 50% of the restricted common shares being held in escrow issuable subject to performance milestones.
  • Helio has built a unique and propriety platform enabling cryptocurrency holders to earn interest on deposits and secure loans collateralized by certain cryptocurrencies.
  • Centralized finance, called \'CeFi\' allows people to earn interest or get loans on their cryptocurrency by lending or borrowing through a centralized corporation.
  • Marko has chaired multiple events and committees for non-profits including the Child Protection Centre and Selah Freedom.\n'

KBRA Assigns Preliminary Ratings to Credit Acceptance Auto Loan Trust 2021-3

Retrieved on: 
Thursday, May 6, 2021
Banking, Professional services, Finance, Money, Finance, Economy, Credit, United States housing bubble, Loans, Debt, Securitization, Credit rating agency, KBRA, Collateral

b'Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Credit Acceptance Auto Loan Trust 2021-3 (\xe2\x80\x9cCAALT 2021-3\xe2\x80\x9d), a $350 million auto loan ABS transaction.\nCAALT 2021-3 represents the third ABS securitization in 2021 for Credit Acceptance Corporation\xe2\x80\x99s (\xe2\x80\x9cCredit Acceptance\xe2\x80\x9d or the \xe2\x80\x9cCompany\xe2\x80\x9d).

Key Points: 
  • b'Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Credit Acceptance Auto Loan Trust 2021-3 (\xe2\x80\x9cCAALT 2021-3\xe2\x80\x9d), a $350 million auto loan ABS transaction.\nCAALT 2021-3 represents the third ABS securitization in 2021 for Credit Acceptance Corporation\xe2\x80\x99s (\xe2\x80\x9cCredit Acceptance\xe2\x80\x9d or the \xe2\x80\x9cCompany\xe2\x80\x9d).
  • Credit Acceptance has issued 32 ABS transactions and 11 bank-sponsored commercial paper conduit transactions since 2003.\nThe structure and collateral for CAALT 2021-3 are generally similar with the prior CAALT transactions.
  • CAALT 2021-3 includes a 24-month revolving period during which principal collections may be used to purchase additional collateral.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210506005857/en/\n'

CloudMargin Names Martin Heraghty Sales Director, DACH Region

Retrieved on: 
Tuesday, April 27, 2021
Finance, Money, Companies, fis, SunGard, Vermeg, Collateral management, Collateral

b'LONDON, April 27, 2021 /PRNewswire/ -- CloudMargin , creator of the world\'s first and only collateral and margin management solution native to the cloud, announced today that Martin Heraghty has joined the firm as Sales Director for the DACH region in Europe, comprising Germany, Austria and Switzerland, and Central Europe.

Key Points: 
  • b'LONDON, April 27, 2021 /PRNewswire/ -- CloudMargin , creator of the world\'s first and only collateral and margin management solution native to the cloud, announced today that Martin Heraghty has joined the firm as Sales Director for the DACH region in Europe, comprising Germany, Austria and Switzerland, and Central Europe.
  • He spent several years at Lombard Risk (now VERMEG), responsible for sales in the European territories of the firm\'s collateral management [and risk] solutions.
  • CloudMargin continues to lead the way in terms of reducing costs, minimising risk and enabling efficiencies in an increasingly regulated environment.
  • He was Sales Director, EMEA (Europe, the Middle East and Africa) for Lombard Risk, beginning in 2011.\nFrom 2009 to 2011, Heraghty was Sales Director at SunGard (now FIS).

CloudMargin Names Martin Heraghty Sales Director, DACH Region

Retrieved on: 
Tuesday, April 27, 2021
Finance, Money, Companies, fis, SunGard, Vermeg, Collateral management, Collateral

b'LONDON, April 27, 2021 /PRNewswire/ -- CloudMargin , creator of the world\'s first and only collateral and margin management solution native to the cloud, announced today that Martin Heraghty has joined the firm as Sales Director for the DACH region in Europe, comprising Germany, Austria and Switzerland, and Central Europe.

Key Points: 
  • b'LONDON, April 27, 2021 /PRNewswire/ -- CloudMargin , creator of the world\'s first and only collateral and margin management solution native to the cloud, announced today that Martin Heraghty has joined the firm as Sales Director for the DACH region in Europe, comprising Germany, Austria and Switzerland, and Central Europe.
  • He spent several years at Lombard Risk (now VERMEG), responsible for sales in the European territories of the firm\'s collateral management [and risk] solutions.
  • CloudMargin continues to lead the way in terms of reducing costs, minimising risk and enabling efficiencies in an increasingly regulated environment.
  • He was Sales Director, EMEA (Europe, the Middle East and Africa) for Lombard Risk, beginning in 2011.\nFrom 2009 to 2011, Heraghty was Sales Director at SunGard (now FIS).

LendingFront Partners with FilmHedge to Facilitate Lending for Independent Film and TV Production

Retrieved on: 
Monday, April 19, 2021
Economy, Loans, Credit, Articles, Jon Gosier, Creative industries, Collateral

FilmHedge is making it easier for independent producers to borrow capital for such creative projects, and LendingFront was the only company willing to meet our highly unique needs," said Jon Gosier, founder and CEO, FilmHedge.

Key Points: 
  • FilmHedge is making it easier for independent producers to borrow capital for such creative projects, and LendingFront was the only company willing to meet our highly unique needs," said Jon Gosier, founder and CEO, FilmHedge.
  • "Off-the-shelf software wouldn\'t work with the non-standard customer data points and unique collateralization that FilmHedge uses to make loan decisions.
  • LendingFront tailored exactly the right process for us to assess and deliver loans more efficiently and easily within these creative industries.
  • "\n"LendingFront is proud to work with a forward-thinking lender like FilmHedge.

KBRA Assigns Ratings to CSAIL 2021-C20

Retrieved on: 
Tuesday, March 30, 2021
Professional services, Finance, Finance, Money, Economy, Structured finance, Mortgage-backed security, Fixed-income securities, Corporate finance, Mortgage, Commercial mortgage-backed security, Commercial mortgage, Collateral, KBRA

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 14 classes of CSAIL 2021-C20, a $650.1 million CMBS conduit transaction collateralized by 28 commercial mortgage loans secured by 40 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 14 classes of CSAIL 2021-C20, a $650.1 million CMBS conduit transaction collateralized by 28 commercial mortgage loans secured by 40 properties.
  • The collateral properties are located throughout 21 MSAs, the largest three of which are New York (19.5%), Los Angeles (12.8%), and Atlanta (12.8%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 44.7% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

KBRA Assigns Ratings to Benchmark 2021-B24

Retrieved on: 
Wednesday, March 24, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Loans, Mortgage-backed security, Structured finance, Fixed-income securities, Commercial mortgage-backed security, Corporate finance, Commercial mortgage, Mortgage loan, Collateral

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 18 classes of Benchmark 2021-B24, a $1.2 billion CMBS conduit transaction collateralized by 40 commercial mortgage loans secured by 71 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of ratings to 18 classes of Benchmark 2021-B24, a $1.2 billion CMBS conduit transaction collateralized by 40 commercial mortgage loans secured by 71 properties.
  • The collateral properties are located throughout 52 MSAs, the largest three of which are New York (22.1%), Palm Beach County (10.8%), and Las Vegas (6.9%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 44.7% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

Universal Stainless Announces Amended and Restated Credit Agreement

Retrieved on: 
Friday, March 19, 2021
Money, Finance, Economy, Loans, Credit, Debt, Asset-based lending, Banking, Corporate finance, PNC Financial Services, Line of credit, Collateral

BRIDGEVILLE, Pa., March 19, 2021 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has amended and restated its five-year $120million asset-based lending (ABL) credit agreement with PNC Bank, National Association.

Key Points: 
  • BRIDGEVILLE, Pa., March 19, 2021 (GLOBE NEWSWIRE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has amended and restated its five-year $120million asset-based lending (ABL) credit agreement with PNC Bank, National Association.
  • The new agreement includes a revolving credit facility of $105 million and increases the term loan facility to $15million.
  • The Companys obligations under the amended and restated credit agreement continue to be collateralized by substantially all of the Companys accounts receivables, inventory, and fixed assets.
  • The amended and restated credit agreement supersedes the Companys prior ABL credit agreement with PNC Bank, which was scheduled to expire in August 2023.