What the CFPB Constitutionality Ruling Means for Lenders
What the CFPB Constitutionality Ruling Means for banks and other lenders.
Consumer ABS
Navient Returns to Familiar FFELP ABS Structure
Navient Corp. is planning its second student-loan securitization in excess of $1 billion this year. The transaction also marks a return to a pool of primarily performing loans through the Federal Family Education Loan Program (FFELP), after two prior transactions consisting entirely of rehab loans that have rebounded from default status.
Three Student Lenders Offering $450M Consolidation Loan ABS
Three separate offerings of private loans consolidating the debt of medical students and other recent graduates hit the market last week
Westlake Franchise Ties Strengthened in New ABS
Increased loss expectations have weakened credit metrics in Westlake Services new $500M securitization of subprime vehicle loan receivables. The heightened risk is offset, though, by a continued expansion of its franchise network that is putting borrowers into more reliable, and more expensive, vehicles.
Incremental Pool Improvements Highlight Oportun ABS
The latest asset-backed transaction, Opportun Funding IV, LLC, Series 2016-C is a $125 million offering of two classes of notes, backed by $147 million in personal consumer loans in Hispanic communities in the U.S.
CPS Ups Longer-Term Loans in Latest Subprime Auto ABS
Consumer Portfolio Services' latest subprime auto loan securitization has the largest ever concentration of longer-term loans.
VW Rolls Out Latest Vehicle Lease ABS
While Volkswagen continues its international efforts to remedy its 2015 diesel-engine emissions scandal, the German automaker also carries on with its ramped-up efforts since last fall to raise more capital through securitizations. The latest transaction is a 750 million (US$837.5 million) static pool of German vehicle lease receivables from both retail and commercial contracts.
Consumer Delinquencies Hit New Low; Trend to Continue, ABA Says
Consumer delinquencies fell last quarter to their lowest point in at least 15 years, according to quarterly data released Thursday by the American Bankers Association.
Bank of Nova Scotia Debuts in U.S. Auto ABS Market
The Bank of Nova Scotia is launching its debut in the U.S. securitization market with bonds backed by auto loans denominated in Canadian dollars
SoFi Returns with Third Consumer Loan Securitization of 2016
SoFi Lending is marketing another $427 million of bonds backed by unsecured consumer loans, according to rating agency reports.
Prosper Shuts Down the Secondary Market for Its Loans
Prosper Marketplace is closing the secondary market for its loans, citing a lack of demand among investors.
Capital One to Acquire Cabela’s Credit Card Business
Capital One Financial plans to start issuing credit cards for the outdoor equipment chain Cabela's under a deal connected with the retailer's expected sale to Bass Pro Shops.
Nelnet Marketing its 1st FFELP Securitization of 2016
Nelnet is marketing its first securitization of federally guaranteed student loans of the year, according to rating agency reports.
Small Banks Count on Tech as Equalizer in Student Lending
The private student loan market is dominated by large players, but some community banks are turning to a third-party tech company to help them get in the game.
Subprime ABS Loan Losses Spiked in August
Securitized subprime auto loan losses surged 27% on an annualized basis August, putting the sector on a path to approach post-crisis record loss levels by years end.
Sallie Mae Readies 3rd Private Student Loan Deal of Year
Sallie Mae is marketing its third offering of the year of bonds backed by private student loans.
BMW Adds $1B of Lease ABS to Mix of Auto Deals
BMW is adding another $1 billion to the mix of auto-related securitizations in the new issue market.
Santander, Exeter Boost Credit Metrics in New ABS Deals
Santander Drive Auto Receivables Trust (SDART) 2016-3 consists of $1.178 billion in new and used vehicle loans originated or acquired by Santander Consumer USA, with a potential upsizing in the works. Exeter's third deal of the year is sized at $450 million in notes, backed by $471.2 million in subprime loans.
Goldman Sachs Reveals New Details About Its Consumer Lending Arm
Goldman Sachs is betting that its image as a temple of high finance will have broad appeal among the U.S. middle class.
Goldman Sachs Reveals New Details About Its Consumer Lending Arm
The Wall Street firm believes that its gold-plated brand will help attract middle-class borrowers.
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