Banks keeping worst credits out of card ABS
Credit card losses are climbing as consumers take on more debt, but so far the performance of bonds backed by credit card receivables is holding up.
Consumer ABS
Banks cede market share in auto lending: Report
Large banks have scaled back lending as competition has intensified and credit unions and financing arms of car manufacturers are picking up the slack.
Upstart consumer lender launches 1st securitization
Upstart (that's it's name), which was founded by several former Google employees, makes unsecured installment loans to prime and near-prime borrowers.
Santander preps 1st German auto ABS of 2017
The German subsidiary of Spanish lender Santander Consumer Finance is planning its first auto loan securitization of the year.
By
Glen Fest
UACC pays up for triple-A on subprime auto ABS
Credit metrics in a $147.5 million deal deteriorated mildly compared with the lender's previous securitization, but the real issue, according to S&P Global, is a new repossession fee that eats into recoveries.
By
Glen Fest
The other big risk in auto lending
GrandSouth Bancorp's issues with floor-plan loans to car dealers serve as a reminder of another pitfall in auto lending besides consumer loans.
Goldman plays new role in next CommonBond ABS
The investment bank, which co-lead the lender's previous two transactions, contributed a portion of the collateral for the $232 million student loan securitization.
Dodd-Frank overhaul bill advances closer to House vote
The broad bill, sponsored by House Financial Services Committee Chairman Jeb Hensarling, R-Tex., would provide an off-ramp for banks that agree to hold a leverage ratio of at least 10% and would gut the Consumer Financial Protection Bureau, among other provisions.
Mixed Signals on CFPB Constitutionality from Appeals Court Justices
Appeals court justices appeared divided on whether the structure of the Consumer Financial Protection Bureau is constitutional during oral arguments in the PHH v. CFPB case on Wednesday.
Bluegreen Marketing 1st Timeshare Loan ABS of 2017
BXG Receivables Note Trust 2017-A is a $120.19 million securitization of vacation interval loans originated by timeshare developer Bluegreen Corp. and sister company Bluegreen Properties N.V. The transaction is the first of the year for Bluegreen.
Santander, Flagship, American Credit Add $1.74B to Subprime Auto Pipeline
Subprime lenders are adding $1.74 billion to the auto-loan ABS market this week in a trio of deals marking the second issuance of the year for each.
Hyundai Back for Seconds in $1.12B Auto Lease ABS
Hyundai Capital America is marketing its second auto-lease securitization of new Hyundai and Kia vehicles this year, totaling $1.12 billion in bonds. This is the 12th overall lease transaction for Hyundai Capital.
Ford, Mercedes Launch Dealer Floorplan Securitizations Totaling $1.9B
Ford Motor Credit and Mercedes-Benz Financial Services USA launched a pair of dealer floorplan securitizations totaling $1.9 billion Thursday.
SoFi Stepping Up Pace with 3rd Student Loan Securitization of 2017
SoFi Lending Corp. is marketing its third securitization of the year of loans refinancing the student debt of high earning professionals, as it continues to accelerate the pace of lending.
VW Finance Securitizing 750M of Spanish Auto Loans
Volkswagen Finance S.A., E.F.C. is selling 750 million in bonds in its fourth public securitization of auto loans extended to borrowers purchasing VW Group vehicle models in Spain. Only 2.2% of the pool is impacted by the lingering fallout from the 2015 emissions scandal, according to Moody's.
Nelnet’s 1st FFELP ABS of 2017 Backed by Consolidation Loans
Nelnets first federally guaranteed student loan securitization in almost a year is backed primarily by consolidation loans.
Prosper’s Unusual Pitch: New Loans Appear Riskier, by Some Metrics
Prosper Marketplaces first new unsecured consumer loan securitization of 2017 has an unusual selling point: a collateral pool of higher-risk loans that it nonetheless believes will improve on recent rising default rates.
SoFi’s Bid to Become an Industrial Bank Pulls FDIC into Fintech Fray
The Federal Deposit Insurance Corp. has so far managed to stay out of the growing battle over how the U.S. fintech sector should be regulated, but that appears likely to end as one of the nations largest online lenders announced plans to apply for a specialty banking charter soon.
Deal Scan: S&P, DBRS Diverge on Earnest Student Loan ABS
S&P and DBRS have diverged on rating the senior notes in a $175.26 million securitization of private student-loan refinancings from Earnest Operations. Also, Comenity Bank has a new private-label card transaction through its World Financial master trust.
Barclays Pooling $632M in Co-Branded Card Receivables
Barclays U.S. credit card master trust is issuing $632.9 million in new notes backed by a revolving pool of primarily co-branded card receivables.
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