Volkswagen Securitizes £750M U.K. Auto Loans
Volkswagen Financial Services U.K. is pooling £750 million of U.K. auto loans to back sterling denominated bonds issued from its UK Driver trust.
Consumer ABS
Late Payments Jump in Securitized Subprime Auto Loans
The share of subprime borrowers who are late with their payments has gone up in deals that bundle auto loans. The reason? Weaker credit, and, more interestingly, regulatory scrutiny.
GMAC Plans Second China Auto Loan ABS of 2015
GMAC-SAIC Automotive Finance Co. is rolling out a RMB 3 billion ($470 million) securitization of short-dated Chinese auto loans, according to Moodys Investors Service.
SFIG Works on Response to FED’s Inquiry into Marketplace Lending
Given SFIG’s diverse membership, it will be interesting to how the securitization trade group responds to the questions about marketplace lenders, particularly those regarding risk retention.
Santander’s U.S. Unit Doubles Down on Subprime
Santander Consumer is boosting its subprime loan book, while CLO investors should be shrugging off the bankruptcy of Alpha Natural Resources.
Nissan Unit Preps $242M-Equivalent Chinese Auto ABS
A Chinese unit majority owned by Nissan Motor Co. is prepping an auto loan securitization for CNY1.5 billion ($242 million).
Ally Making Fewer Trips to Securitization Market
Ally Bank gets the green light from regulators to fund more subprime auto loans with deposits; and CommonBond hires leveraged finance veteran Morgan Edwards as CFO.
Will Online Lenders Be Subject to State Usury Laws?
A court ruling calls into question whether online lenders can enjoy the same exemption from state usury laws as national banks. Also, a lost candidate for solar securitization.
Mischler Financial Taps Beranek to Expand Structured Fin
Mischler Financial Group, Inc. has named Patrick Beranek as managing director, structured products
Santander Consumer Names Blythe Masters Chairman
Santander Consumer USA Holdings named Blythe Masters nonexecutive chairman, replacing the executive who quit the post less than two weeks ago
A New Product for Chinese Stock Exchanges?
Moody’s explains why listing CLOs on Shanghai and Shenzhen’s bourses would help Chinese banks, while a deal between Ford and tech startup Getaround could mean a new twist on auto loans.
Volkswagen Prices 2nd China Auto ABS for RMB1.89 billion
Volkswagen Finance China, a unit of Volkswagen Financial Services AG, has priced its second static cash securitization of Chinese auto loan receivables.
Argentina Still Holds Clues to Grexit Securitization Fallout
If you want to know what a Greek exit from the euro would do to the 16.64 billion ($18.54 billion) of bonds out there backed by Greek assets, start with Argentina.
Volkswagen Offers German Auto ABS Via New Master Trust Program
Volkswagen Bank GmbH plans to sell 1.25 billion ($1.42 billion) of bonds backed by German auto loan receivables.
Athlon Preps Dutch Car Lease ABS
Athlon Car Lease Nederland plans to securitize 713 million ($793 million) worth of car leases made to Dutch based corporate and small business borrowers.
Student Loan Servicers Not Overcharging Troops
The U.S. Department of Education finds little evidence active-duty servicemembers are being charged unlawfully high interest rates on student loans, and Exeter Finance taps Freddie Mac exec as CFO.
Exeter Finance Hires Freddie Mac Executive as CFO
Exeter Finance has hired Freddie Mac executive Paige H. Wisdom to be its chief financial officer.
Over Enrolled: How Sallie Mae Manages Growth in its Balance Sheet
Sallie Mae is making more student loans that it can keep on its balance sheet
Carrefour Readies 400M French Credit Card ABS
Carrefour Banque, the captive consumer finance arm of the French retailer Carrefour S.A., Europe's largest retailer, plans to sell 400 million ($454 million) of securities backed by credit card receivables.
Are Incentives Aligned for P-to-P Platforms and Their Investors?
Moodys managing director Will Black talks about why marketplace lenders dont necessarily have much of a stake in how securitizations of their loans perform. He also discusses a big strength of the business: high data transparency.
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