Bank of America Auto Trust is in the market with an auto-backed ABS. The $1.5 billion deal is lead by Bank of America Merrill Lynch.
Preliminary details on the deal are available via the link below from the ASR Scorecard database.
Discussions center around a deal that would be executed through a court-supervised Chapter 11 sale process or via a shareholder vote.
While the majority of SRTs are used to offload credit risk on corporate lending, strong demand for the instruments is allowing banks to offer other forms of collateral.
Homeowners won't trade in their cheap mortgages so lenders keep finding other ways to reach that equity. Bond buyers keep showing up.
BasePoint's technology system, including a proprietary database of historical loan performance data going back 15 years and overseen by 20 data scientists, enables it to fund borrowers daily and apply margin calls every five days.
American Banker research finds that while more than 30% agree buy now/pay later is good for banks and consumers, the majority of respondents are unconvinced.