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Steve Eisman, the Neuberger Berman Group fund manager who featured in Michael Lewis's book "The Big Short," said he's concerned about the U.S. subprime-auto market, even though credit quality across the banking system has improved significantly.
GM Financial Services is marketing its first auto loan securitization of the year, according to Standard & Poors.
Banco Bilbao Vizcaya Argentaria (BBVA) and Banco Popular Español are securitizing consumer loans issued in Spain. Banco Popular's 510 million two-year revolving securitization is its first-ever in its home country.
The Rhode Island Student Loan Authority (RISLA) is issuing $50.26 million in new revenue bonds backed by a pooling of new and consolidated loans to be originated through the states private loan program.
Trade-ins represent a growing risk for auto lenders, according to Moody's Investor Service.
GMAC is issuing its eighth asset-backed UK transaction in a £385.8 million (US$481.3 million) bond offering backed by individual and small-business vehicle lease contracts.
Fitch Ratings says the auto loan and lease sectors will continue to experience deteriorating credit performance throughout 2017, as defaults accelerate among subprime borrowers and used-car values in decline.
Signs of growing weakness in the U.S. auto loan market are hurting the bottom line at one of the nations largest car lenders.
Capital One is securitizing $1.15 billion in consumer and small-business credit-card receivables, in its first asset-backed card series notes transaction since August. The notes are being sold in three Class A series through the Capital One Multi-Asset Execution Trust (COMET), each with preliminary triple-A ratings Fitch Ratings and Standard & Poor’s. The ntoes being issued […]
In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing
The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau.
Five prime lenders have launched $5.5 billion in new loan- and lease-backed securitizations, including the second transaction of the year for Ally Financial.
SoFi Lending Corp. is marketing its second student loan securitization of the year.
Social Finance Inc.s online borrowers are defaulting at higher rates than underwriters for one of its bond deals had expected, the latest sign that an industry that hoped to upend banking is now getting tripped up by bad loans.
Multilease AG, the finance arm of a Swiss auto importer, is making its first strip to the European securitization market.
Navient Student Loan Trust 2017-2 is backed by federally guaranteed student loans that were once delinquent but are now making timely payments, according to DBRS.
BMW Financial Services new $1.17 billion auto lease securitization is being launched with one of the highest FICO scores and lowest hard credit enhancement levels of almost any recent asset-backed transaction involving luxury auto lease receivables. Including its own recent deals.
Wyndham Worldwide is marketing its 33rd timeshare receivables transaction in a $300 million notes issuance through its Sierra trust platform.
Orico, a Japanese finance company, is pursuing its sixth multi-currency prime auto loan securitization in a $336.5 million deal that includes several tranches of U.S.-dollar denominated bonds.
Subprime auto lender Westlake Financial Services is hoping asset-backed investors can stomach a bigger dose of regulatory risk.
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