Propel Named Servicer on Record-Setting Tax Lien Securitization
Encore Capital Group Inc (ECPG)
Last encore capital group inc earnings: 2/26 04:05 pm
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Source: PR Web
SAN ANTONIO, TX (PRWEB) March 01, 2018 Propel Financial Services, LLC was named as the primary servicer and advisor on a $144.4M securitization of over 32,000 property tax liens that priced February 23, 2018. The transaction, TLF National Tax Lien Trust 2017-1, contained two tranches (rated "AAA" (sf) and "A" by Kroll Bond Rating Agency) and achieved record setting low credit spreads for a tax lien securitization sponsored by a private company. Jack Nelson, Propel's co-founder and CEO, remarked "This was a tremendous outcome for our client. We expect to achieve many future successes for our clients as we continue to grow our loan servicing portfolio."Guggenheim Securities served as Sole Structuring Advisor and Sole Bookrunner on the transaction, which included assets from eight different states. Christina Carney, Propel's VP of Operations elaborated, "Being named as the servicer of a transaction of this size and complexity is a great testament to the systems, processes and team w
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ECPG
Earnings
- 2/21/24 - Miss
ECPG
Sec Filings
- 3/21/24 - Form 8-K
- 3/15/24 - Form 8-K
- 3/12/24 - Form 4
- ECPG's page on the SEC website