Sector developments and company hires

The German digital-lending platform auxmoney has secured a further €500m in funding for investment into consumer loans on its platform from Citi and Natixis’ ABCP conduit. The digital-lending platform has been supported by investment from Citi since 2021, with this latest funding from the two large financial institutions expected to be used for the origination of new loans. The firm hopes the extension of its lending to a second facility with Natixis as a new senior lender will help boost its standing as a tech-enabled platform for institutional investors.

In other news….

North America

Fannie Mae yesterday (August 2) priced CAS 2022-R08, reported to be in the market last week. It sold a $377.9m M-1, rated BBB+/BBB+, at SOFR plus 255bp, a $124.9m M-2, rated BBB-/BBB at SOFR plus 360bp and a $122m B-1, rated BB-/BB+ at SOFR plus 560bp. The reference pool consists of 68,000 single family mortgages with LTVs of between 60% and 80% and has an unpaid principal balance of $20.4bn. All were written between September and November last year. Bank of America is lead manager is and StoneX is co-lead.

Freddie Mac yesterday (August 2) announced the details of its third tender offer of 2022, via lead dealer managers Bank of America and Wells Fargo. It is tendering 20 high LTV and low LTV M2 and M3 tranches which were priced in 2014, 2015, 2016 and 2017. The value of the tender is around $20.5m.The offer commenced yesterday and concludes next Monday, August 8 at 5pm EDT. Settlement is expected on Wednesday, August 10.