Student loan ABS notch delinquencies in Q1, but don’t raise alarms
Delinquencies could trend downward, similar to the rise in early stage delinquencies in 2020, but observers say high inflation could add pressure to in-school repayments.
Natalie McNeal
Contributor
Prime borrowers purchasing investment properties secure Wells Fargo’s latest MBS
Home price values of the underlying pool are more than 10% above a long-term sustainable level. The sustainable level from a national point of view is 9.2%.
Discover’s latest aims to raise $500 million credit card ABS
A low charge-off rate and an increasing monthly payment rate are credit hallmarks of the latest deal.
Commercial and industrial solar provider Luminace readies $402 million transaction
The PV systems are grouped into 74 different projects, including 46 that are subject to a master lease agreement between Sunbeam LeaseCo, a third party, and subsidiary of the issuer.
Carvana readies $615.5 million in ABS notes on fixed-rate installment loans to buy cars
CRVNA 2022-P2’s pool balance is much smaller than that of its most recent predecessors, which issued about $1.0 billion.
Unsecured consumer loan lender is launching an ABS
The securitization pools loans to people in debt relief programs or who want to consolidate their debts.
ACC Auto Trust readies $222.791 million in ABS notes on subprime fixed rate installment loans
The offering is the latest securitization in the fertile automobile ABS market
High FICO scores and extended payments are key to up-and-coming Capital One Prime ABS
Both used and new cars make up the collateral in COPAR 2022-1
Solar energy company is preparing $647 million ABS
Sunrun, which is one of its largest players in the solar panel industry, plans an asset-backed security that pools loans tied to residential solar leases and power purchase agreements.
American Credit Acceptance plans second ABS this year
The subprime auto lender has a good track record, but there are concerns about used-car prices normalizing, according to KBRA.
CarMax continues its winning ABS formula with latest securitization proposal
The most profitable and largest used-car retailer has had more than a dozen ABS in the last four years.
Timeshare mainstay Bluegreen returns to securitization with $171.95 million transaction
DBRS Morningstar says COVID's impact should not stress the ABS.
Consumer lender One Main is launching a new ABS
First social bond will serve rural borrowers who mostly earn under $50,000 in net income per year.
America’s Car-Mart heads to market with first rated ABS securitization
KBRA says the Southern subprime used-vehicle retailer’s experience brings credibility to the space
The Consumer Finance Protection Bureau appeals federal ruling on trusts
The NCSLTs say whether student loan ABS trusts are “covered persons” and thus under the CFPB’s regulation is not something that an appeals court should decide.
Pros fear court ruling on student loan ABS suit could hurt consumer ABS
At issue are CFPB claims that the National Collegiate Student Loan Trust (NCSLTs) had engaged in deceptive student loan debt collection and unfair litigation practices.
Fitch anticipates stable ABS sectors in 2022, but heeds inflation and COVID-19’s potential harm
The asset-backed-security (ABS) market should be “largely stable” in 2022, but the prolonged COVID-19 pandemic, coupled with inflation, may hurt segments of the sector, structured finance experts at Fitch Ratings said at a recent conference. “We’ve seen some volatility in the last several weeks related to the impact of the omicron variant on the economic […]
Credit managers: inflation, interest rates could prompt wider Q1 spreads
Labor and supply-chain issues, coupled with rising inflation and higher interest rates, but not the omicron surge, are shaping a slightly more negative view.
Credit card ABS chargeoffs reach historic lows in Q3 2021
Performances were solid across the board as retail store, late-stage and payment rates all improved, while the prime chargeoff rate reaches a historically low level.
Expect a tally of $149 billion in commercial real estate securitization volume, says KBRA
Private label commercial real estate (CRE) securitizations may end up at $149 billion – more than double 2020’s volume of $62.2 billion.
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