Discover Card Master Trust (DCMT) 1 is issuing a pool of $500 Million DiscoverSeries Class A notes (2016-2) and a $250 million Class A notes (2016-3), according to a filing Friday with the Securities and Exchange Commission.
Charlie Hallinan, who pioneered the tactics payday lenders have used for years to stymie state regulators, was indicted Thursday on federal conspiracy and fraud charges.
Consumer Portfolio Services, American Credit Acceptance, Santander Consumer, and CarMax launched four securitizations of subprime loans (CPS and ACA), prime loans (CarMax), and in the case of Santanders Chrysler Capital, something in between.
Bank of Montreal is tapping the U.S. securitization market with a credit card deal for the first time this year, according to Moodys Investors Service.
As more employers offer student loan repayment assistance to their workers, lenders that specialize in refinancing debt like Citizens Financial and SoFi see an opportunity to reel in more customers
Student loan servicer Navient is marketing another $497 million of securities backed by federally guaranteed student loans, according to rating agency reports.
DriveTime Automotive Group is marketing its second subprime auto loan securitization of the year, according to rating agency reports.
Hyundai Motor is marketing its first offering of the year of bonds backed by dealer inventory financing, according to rating agency reports
AmeriCredit Financial Services, a unit of GM Financial, is marketing its second subprime auto loan securitization of the year, according to Moodys Investors Service.
Homeowners are used to refinancing their mortgage to borrow additional money, but some lenders also allow consumers to access extra funds parked in their driveway.
Volkswagen AGs latest auto lease securitization in Europe appears to show the automaker is making progress to repair nearly 11 million vehicles and maintain its past solid quality securitization performance in the wake of its diesel-engine emissions testing scandal that broke last September.
The Consumer Financial Protection Bureau on Wednesday ordered a San Diego student debt relief company to shut its operations, cancel all contracts and cease participating in the industry.
A growing number of ABS professionals expect credit quality to decline and underwriting standards to tighten this year, according to a survey released Tuesday by Capital One Bank.
Subprime consumer lender Avant currently rejects many of its personal loan applicants. It hopes to qualify more borrowers by offering cash to those who are willing to put their cars up as collateral.
There’s no doubt that competition is spurring subprime auto lenders to stretch their underwriting guidelines for new customers, which could lead to another bust. In February, 5.16% of securitized subprime auto loans were at least 60 days past due, according to Fitch Ratings. That slightly exceeded the level of late payments at the height of the Great Recession. Here’s a guide to who’s doing what.
California Republic Bancorp in Irvine is pressing the accelerator on plans to expand its indirect auto lending business despite increasing industry concerns that the sector may be overheating.
Military families and service members are submitting debt collection complaints to the Consumer Finance Protection Bureau at twice the rate of other consumers.
Citigroup is marketing $771 million of commercial mortgage bonds backed by 37 loans secured by 75 properties, according to Kroll Bond Rating Agency.
The number of borrowers behind on private student loan payments rose slightly in the fourth quarter of 2015, but the overall trend is for continued improvement, according to Fitch Ratings.
Germanys Bank11 fr Privatkunden und Handel GmbH (Bank11) is securitizing 550 million in auto-loan backed securities in a series of two classes of notes through its Revocar ABS platform.
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