BMW of North America's owner trust is issuing its first auto-loan securitization in nearly two years, while CarMax is coming out with its second of 2016. Also, Nissan is planning to issue its first dealer floorplan ABS of the year.
New rules designed to stop U.S. companies from moving their tax addresses offshore are so written so broadly that they could disrupt the securitization market, a trade group warned Thursday.
World Omni Financial Corp. is making its annual trip to the securitization market with auto leases.
Bank of Montreal (BMO) is backing its third receivables-backed securitization of the year, but the first split-denomination ABS transaction of 2016 in the $1.1 billion deal. TD Bank's Evergreen Trust is also marketing a US/Canadian dollar denominated securitization.
The Supreme Court's decision Monday not to hear a closely watched lending case leaves unresolved some key questions for the U.S. financial industry.
In a setback for the U.S. consumer finance industry, the Supreme Court said Monday that it will not review a lower court's decision that bolstered the ability of states to enforce bans on high-cost lending.
Cabela's Master Credit Card Trust Series 2016-1 was set with a $570 million fixed-rate Class A-1 tranche with a 1.78% coupon, and a $280 million floating-rate Class A-2 tranche at 85 basis points over the one-month Libor rate.
Renovate America, a provider of home energy efficiency improvements financing, is planning a new securitization platform providing additional data into its capital markets transactions.
Online lender Social Finance, or SoFi, found a ready market for its inaugural rated offering of bonds backed by unsecured consumer loans.
Navients next student loan securitization is backed entirely by federally guaranteed loans to borrowers who were once in arrears but are now making timely payments.
Bond rating agency DBRS has assigned provisional ratings to an asset-backed vehicle comprised of 1.2 billion of consumer personal and mortgage loans originated by Spanish bank Caixabank.
Hunting and fishing equipment retail chain Cabelas is planning a $425 million credit-card receivables securitization, as it also explores a sale of the company and/or its credit-card operations.
Oportun Financial Corp., formerly Progreso Financiero Holdings, is offering $102.9 million in Class A notes and $22.07 million in Class B notes. The deal is rated by Kroll Bond Rating Agency.
Weakening credit quality and falling prices on used-car values will cause some deterioration in existing auto asset-backed portfolios this summer, predicts Fitch Ratings.
Sierra Auto Finance, a subprime auto lender founded by a former executive of Exeter Finance, is making its debut in the securitization market.
Ford Motor Credit has launched an offering of $810 million of securities backed by prime retail auto loans.
Mortgage lenders, debt collectors and credit card companies have borne the brunt of the Consumer Financial Protection Bureau's public enforcement actions over the past four years, yet banks have paid the most in penalties and restitution, according to a new study released by an agency insider.
Syncrhony Financial, the largest U.S. issuer of private-label credit cards, is warning that its chargeoff rate is likely to rise over the next year as some borrowers struggle to keep up with late payments,
SoFi Lending Corp. is Marketing its first Rated Consumer Loan Securitization
Moody's revised its criteria for rating FFELP ABS to take into account heavy borrower usage of Income Based Repayment.
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