Why Volkswagen is Ramping Up Auto Loan ABS
The fallout from the Volkswagen’s emissions crisis has had little effect on the performance of its auto loans, allowing it to keep accessing the securitization market.
Consumer ABS
GM Launches Another Dealer Floorplan Deal
GMF Floorplan Owner Revolving Trust 2016-1, totaling $592.47 million, is only the second-ever securitization of dealer financing receivables through the GFORT vehicle, founded in 2013.
Sallie Mae Preps 1st Private Student Loan ABS of 2016
Sallie Mae Bank is preparing its first private student loan securitization of the year, according to rating agency reports.
Nissan, Hyundai Launch Combined $2B Auto Lease ABS
Nissan and Hyundai each launched approximately $1 billion of bonds backed by auto leases Thursday, according to rating agency reports.
DRB Issues 2nd Student Loan ABS for 2016
Darien Rowayton Bank with a fledging student loan refinancing program for graduates of prestigious medical, business and law schools is issuing a $176 million securitization of three-classes of fixed- and floating-rate loans.
Capital One Files for $750M Card-Backed Series
Capital One Bank is bringing its first 2016 issue of securitized credit-card receivables in two series of notes totaling $750 million through its Capital One Multi-Asset Execution Trust (or COMET), according to a regulatory filing.
RBC Brings Rare Canadian CMBS to Market
The RBC Capital Markets is marketing what is likely to be one of very few offerings of Canadian commercial mortgage bonds this year.
LendingClub, Competitors Face Risks from Lawsuits: Moody’s
A proposed class-action lawsuit against LendingClub threatens investors in bonds backed by its loans and similar debt even if the plaintiff loses, according to Moody's Investors Service.
Next Subprime Auto ABS Comes from Global Lending
Global Lending Services is prepping a $200 million offering of bonds backed by subprime auto loans.
Treasury to Issue ‘Recommendations’ on Marketplace Lending Next Week
The Treasury Department will release a white paper next week outlining research and recommendations related to marketplace lending as a capstone to its nearly yearlong inquiry into the fast-growing industry
VW to Issue Dutch Auto Lease-Backed Securities
VCL Master Netherlands B.V. is a Euro-denominated ABS that will issue two series of notes backed by 260.05 million in outstanding principal of from more than 14,000 vehicle lease contracts, as well as 108.97 million in receivables residual values.
Santander AG Issuing 600M German Auto ABS
Moodys Investors Service has assigned a provisional Aaa rating to the class of 556.5 million Class A floating rate notes. None have been assigned to the 43.5 million Class B stack.
Prosper Said to Cut 28% of Staff as Online Loan Growth Slows
Prosper Marketplace Inc., one of the largest U.S. online lending platforms, is slashing its workforce 28%, joining rivals in signaling investors arent as eager to fund loans after years of rapid growth.
Subprime Auto Lender Credit Acceptance Subpoenaed by Maryland
Credit Acceptance Corp. received a subpoena from the Maryland attorney general regarding its repossession and sales policies, the subprime lender disclosed Monday.
New Jersey Adds to Supply of Private Student Loan ABS
New Jersey is the latest private student lender to test the securitization market.
Credit Acceptance Preps Another $330M Subprime Auto ABS.
Credit Acceptance Corp. is marketing $330 million of notes backed by subprime auto loans.
OnDeck Feeling Pinch From Keeping More Loans On Balance Sheet
OnDeck Capital reported a quarterly loss of $12.6 million as revenues fell short of expectations. At the same time, the New York firm sharply reduced its earnings projection for the rest of the year
Student Lender Earnest Returns to Securitization Market
Online lender Earnest is marketing its second ever offering of bonds backed by loans used to refinance student debt.
Where Is OCC in Court Battle Over State Usury Limits?
The potentially wide-ranging effects of an appeals court decision in Midland Funding v. Madden could deal a serious blow to preemption under the National Bank Act.
Peugeot Citro’n Plan £1.31B UK ABS
A joint venture involving the captive finance arm of French automaker PSA Peugeot Citroën and Santander Consumer UK is issuing its first UK auto financing securitization since gaining regulatory approval for operations there.
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