online cash advance
March 9th, 2010 | | Make me happy! NEW YORK — Fitch Ratings affirms the senior student loan notes of the Nelnet
Student Loan Trust (Nelnet) 2002-2 notes, issued under the 2002 Trust
Indenture, dated Sept. 1, 2002. The Rating Outlook remains Stable. The
trust has sufficient credit enhancement for the senior notes with senior
parity at 120.12% as of Nov. 30, 2009 and increasing. A complete list of
rating actions follows at the end of this release.
Fitchs Global Structured Finance Rating Criteria were used to review
the ratings, and the affirmation is based on the performance of the
trust in line with the expectation. The Outlook remains Stable because,
with the significant buildup of parity for the senior notes, the ratings
are expected to remain stable for the next two years. The subordinate
student loan note will be reviewed separately upon the completion of the
updated basis risk analysis.
The collateral supporting the Nelnet 2002-2 notes consists entirely of
federally guaranteed student loans originated under the Federal Family
Education Loan Program (FFELP). FFELP loans are guaranteed at least 97%
of principal and accrued interest, depending on the loan origination
date. The loans are serviced by Nelnet, Inc.
Fitch affirms the ratings and Stable Outlook for the following senior
classes of Nelnets 2002-2 notes, issued under the 2002 Trust Indenture:
–Class 2002-2 A-4L at AAA/LS1; Outlook Stable;
CHICAGO — HFF (Holliday Fenoglio Fowler, L.P.) announced today they have completed
the sale of two small-balance commercial real estate loan pools totaling
$105.4 million on behalf of a special servicer and a money-center bank.
HFF managing director Bill Mitchell and senior managing director Stuart
Salins in Chicago represented the sellers in the transaction.
The two portfolios were marketed separately and include 95 loans in 25
states. Rather than offering and then selling the loans to investors on
a “bulk” or portfolio basis, which is typical in the industry for such
type of loans, HFF instead was able to tap into its investment sales
database and target local, strategic buyers willing to aggressively bid
on individual assets. In total, more than 600 confidentiality agreements
were executed. The assets offered were sold in 26 different transactions
to 18 different local and regional buyers.
“In all, HFF’s unique approach netted 20 to 25 percent more in sales
proceeds with fewer kick-out than had HFF sold the loans in aggregate to
traditional large-portfolio bidders,” said Mitchell.