Navient’s Not Done; Servicer Eyes More Student Loan Portfolios
Navient is hopeful that its purchase of $6.9 billion of student loans from JPMorgan Chase could encourage other banks to consider selling their portfolios.
Consumer ABS
Supreme Court Sends Mixed Signals in Debt Servicing Case
Supreme Court Justices appeared exasperated with both sides in a case that would define whether companies that buy distressed debt are covered under a federal statute setting limits on their activities.
Race should have no place in fintech lending decisions
Fintech companies can help consumers and small businesses obtain credit at lower costs, but it is critical to ensure that these innovative companies do not harm borrowers with predatory or discriminatory lending practices.
Kentucky to Issue $40M Student Loan Revenue Bonds
The Kentucky Higher Education Student Loan Corp. is planning to issue $40 million of bonds backed by both private and federally guaranteed student loans
Seaco Shopping $196M Container ABS Portfolio
S&P Global Ratings has rated its second marine shipping container securitization of the year in a $196 million transaction backed by leases managed by Seaco SRL.
Some Credit Metrics Slip in Exeter’s Latest Subprime Auto ABS
Exeter Finance Corp. took steps to reduce the risk in its first subprime auto loan securitization of 2017, completed in January. For its follow-up deal, launched this week, the indirect lender has shifted slightly into reverse.
Banks Get More Goodies in GOP’s Updated Dodd-Frank Overhaul Plan
A new Republican plan to streamline Dodd-Frank's capital rules, stress tests and many other requirements will be reintroduced in the coming weeks by House Financial Services Committee Chairman Jeb Hensarling.
Mercedes-Benz’ Next Auto Lease ABS Backed by Stronger Borrowers
Mercedes-Benz Financial Services next offering of bonds backed by auto leases with higher credit scores than those of its previous deals.
First National of Omaha Returns with $384.6M Card ABS
First National Bank of Omaha is returning to the securitization market for the first time in two years with $384.6 million of notes backed by credit-card receivables
DeVos Undoes Obama Student Loan Protections
Education Secretary Betsy DeVos on Tuesday rolled back an Obama administration attempt to reform how student loan servicers collect debt.
DRB’s Next Student Loan ABS Has Front-Pay, Back-Pay AAA Notes
Darien Rowayton Bank is preparing to issue $307.5 million of notes backed by private loans used to refinance student debt.
Tidewater Readies 1st Subprime Consumer Loan ABS
Subprime auto lender Tidewater Finance Co. is marketing its first offering of bonds backed by unsecured consumer loans.
CPS Pays Up for AAA as Risks Rise in its Subprime Auto ABS
Subprime auto lender Consumer Portfolio Services (CPS) is paying a steep premium for rising levels of risk in its second asset-backed transaction of loan receivables this year.
Navient Preps 3rd Rehabbed FFELP ABS in 3 Months
Navients is marketing its third offering of the year of bonds backed by federally guaranteed student loa
World Omni, CarMax Auto ABS Now Features More Trucks
Americans are buying fewer cars; as a result, investors in auto loan ABS are getting more exposure to trucks and sport utility vehicles.
Foursight Gains Triple-A in New $173M Subprime Auto ABS
Subprime lender Foursight Capital has been extended its first initial triple-A rating for a structured finance transaction in its new $173.03 million auto loan securitization.
Conn’s Preps 1st Consumer Loan ABS to Comply with Risk Retention
Furniture, electronics and appliance retailer Conns is marketing another $469.83 million of bonds backed by subprime consumer loan receivables.
Renovate America Taps Ex-Freddie Mac Exec as CFO
Renovate America has brought in former Freddie Mac executive Paige Wisdom as chief financial officer as the provider of Property Assessed Clean Energy Loans seeks to expand its expand across the U.S.
More Evidence that Rising Student Debt is Bad for Lenders
Students who took out big loans to attend college or graduate school have lower rates of homeownership than those with little or no educational debt, according to research published Monday.
Solar Panel Provider Sunnova Launches Debut Securitization
A Houston-based energy firm is marketing its first rated securitization of solar panel installation leases and power-purchase agreements (PPAs) in a $245.75 million bond issuance.
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