Two More Subprime Auto Lenders Add $602M to Pipeline
Flagship Credit Acceptance and Tidewater Finance Co. are marketing a combined $602 million of securities backed by subprime auto loans, according to rating agency reports.
Consumer ABS
Oportun Offering $124.8M Consumer Loan ABS
Nonbank lender Oportun is making its fifth trip to the securitization market with a $124.8 million offering that is backed by fewer loans, but higher balances, than previous deals. Kroll has rated the deal.
Santander Launches $1.06B SDART Securitization
Santander Consumer USA is offering its second auto loan-backed ABS of the year in a $1.059 billion securitization of its higher-quality new and used subprime loan receivables.
Online Lender Avant Preps its First Rated Securitization
Online lender Avant is marketing its first rated securitization of loans to consumers with less-than-stellar credit.
BMW Latest Auto Lease ABS with $1B Notes Offering
BMW Financial Services has joined in the cavalcade of captive auto finance companies in the securitization market early this year a $1 billion offering of notes backed by U.S. auto leases.
Warren Calls for Giving CFPB Direct Oversight of Auto Dealers
The Consumer Financial Protection Bureau should have direct oversight of auto dealers instead of being forced to go through indirect auto dealers to make changes to the market, Sen. Elizabeth Warren, D-Mass., suggested Wednesday.
Volkswagen Prices Upsized Spanish Auto ABS
Volkswagen Finance has completed what it is billing as the largest Spanish auto loan securitization since the financial crisis
CFPB, DOJ Force Toyota to Cap Car Dealer Discretion, Pay $22M
Toyota Motor Credit Corp. has agreed to change its pricing and compensation practices and pay nearly $22 million to settle allegations it charged African-Americans and other minorities more than white borrowers for auto loans, federal regulators said Tuesday.
S&P: Slow Start for U.S. Structured Finance Issuance
With only $16 billion in issuance in January, the market for new securitizations fell by $2 billion from December and is less than half of the new structured finance supply from January 2015.
NHHELCO Securitizing Seasoned Private Student Loans
The New Hampshire Higher Education Loan Corp. is readying $141.3 million of securities backed by a pool of older private student loans that have experienced high default rates, according to Moodys Investors Service.
MotoVoto Plans Auto-Lease Backed ABS
MotoVoto Finance, one of the U.K.s largest players in used car financing, is preparing to market its sixth securitization of an undetermined volume of its fixed-rate consumer auto leases.
OneMain To Sell $555.6M in Consumer Loans
OneMain Financial is preparing to package $555.6 million of subprime consumer loan receivables in its first asset-backed securitization since its acquisition by Springleaf Financial from Citigroup was completed in November.
Exeter Ups Enhancement on Latest Supbrime Auto ABS
Exeter Finance Corp. has upped credit enhancement for its latest subprime auto loan securitization to compensate for an increase in losses on recently originated loans.
Nissan Selling $1B in Auto Loans
Nissan Motor Acceptance Corp. is out of the starting blocks in 2016 with a $1 billion auto loan securitization in its first pool of loans of the year.
Earnest is Latest Online Lender to Securitize Student Loans
Another online lender specializing in student loan refinancing, Earnest, is tapping the securitization market for $112 million.
Discover Unveils Credit Card Aimed at Riskier Borrowers
The Secured It Card requires a security deposit but also offers cash-back rewards and other perks normally associated with Discover’s traditional cards.
CFPB’s Auto Finance Push Hurts Consumers
The way the Consumer Financial Protection Bureau is regulating the auto finance industry's relationships with dealers is simply wrong both legally and ethically. It's also directly counterproductive to its goal of protecting consumers.
CIG Financial Newest Auto Loan Sponsor to Tap ABS
CIG Financial is marketing its first ever public term auto loan securitization, according to DBRS.
Hyundai Readies $600M Auto Lease Deal
Hyundai Motors America is marketing $604.42 million of notes backed by auto leases, according to Fitch Ratings.
Navient’s Next Student Loan Deal Pools Private Loans
Navient is making a January debut in the securitization market with plans to sell $488 million worth of bonds backed by private student from its private education loan trust, according to Fitch Ratings.
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