Sallie Mae readies second, and likely last, student loan ABS of 2017
Initial credit enhancement on the senior notes to be issued has risen to 17.5% from 16.8% for the lender's previous securitization, but the target level is unchanged at 30%.
Student loan ABS
Additional credit rating gives CommonBond a leg up on banks
The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively.
Student loan industry trying to “preempt” state regulation, AGs say
A bipartisan coalition of AGs and officials representing 25 states sent a letter to Education Secretary Betsy DeVos today urging the department to reject what they said was a campaign to dismantle state oversight of the industry.
Sallie Mae works to head off threat of refi lenders
While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place.
Refi gambit draws flak at student loan servicer Navient
Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.
SoFi’s latest student loan securitization met with strong demand
Investors don't appear to be overly concerned about recent management changes at the student loan refinance lender.
What higher ed finance reform could mean for private lenders
The biggest opportunity would likely come from limits to PLUS loans for parents and graduate students, something that is beyond the scope of regulators and would require congressional action.
SoFi readies 1st student loan bond post-management shakeup
The credit quality of the collateral is similar to that of the sponsor's prior deals, but there are some structural changes; the senior notes benefit from more overcollateralization, but total OC has declined.
The $8B opportunity in private student lending
Changes under consideration in federal student lending policy could create huge opportunities for private student lenders.
CFPB seeks $183.5M from Aequitas Capital for aiding for-profit college
Regulators reached a $183.5 million settlement with the court-appointed receiver of an Oregon private equity firm that could provide debt relief to 41,000 students of the bankrupt Corinthian College
ECMC returns with another $500M Rehab FFELP ABS
ECMC Group is marketing another $500 million of notes backed by federally guaranteed student loans that were once delinquent but are now making timely payments.
Late payments on private student loans leveling off
As of March 31, the early-stage delinquency rate was just 2.5% of total all private student loans, according to MeasureOne, up five basis points from the same point in 2016.
Nelnet, DRB add $623M to student loan ABS pipeline
Nelnet's offering is backed by federally guaranteed loans; Darien Rowayton Bank's is backed by private loans refinancing the debt of borrowers with prestigious degrees and high incomes.
DealVector gets strategic investment from Tradeweb
The alliance should help the asset registry and communications platform, accelerate its expansion beyond leveraged loans and structured finance and into more overseas markets.
What missing paperwork will cost NCSLT student loan ABS
Investors in hundreds of millions of dollars of bonds backed by private student debt could pay the price for shoddy paperwork and aggressive pursuit of troubled borrowers.
