Consumer ABS

News

Financial Services Forum Exec Bolts to Head Online-Lender Group

Nat Hoopes, executive director of a trade group that represents the chief executives of Wall Street banks, is making the jump to fintech.

Fitch: Subprime Auto ABS Losses Leap to 7.39% in July

The weaker collateral pools in recent-vintage subprime auto loan pools are leading to rising delinquencies and portfolio losses, with July's annualized net losses climbing 17% month-over-month, and 28% year-over-year.

NorthStar Preps $90M Private Student Loan Securitization

The collateral is high quality and highly seasoned; however there is a risk that some of the loans to borrowers studying for the bar or in medical residency could be discharged in bankruptcy, according.

Santander Consumer's 2Q Results Postponed a Second Time

Santander Consumer USA Holdings again delayed its second-quarter results and financial statement due to ongoing discussions with federal regulators about accounting issues.

Wells to Pay $4M to CFPB for Illegal Student Loan Servicing

The Consumer Financial Protection Bureau said Monday that Wells Fargo had engaged in illegal student loan servicing practices by processing payments to maximize late fees.

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Articles

Reg AB II Returns from Limbo

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.

Student Loan Market Headed for Crisis, CFPB Warns

The swelling trillion-dollar student loan market is missing key data and regulations necessary to head off another financial crisis, according to Rohit Chopra, the Consumer Financial Protection Bureau’s top official in charge of dealing with student loans.

Finra Files Proposal to Disseminate Price Data

The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.

Fitch: External Factors Biggest Threat in 2014

Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.

How Big Box Bankruptcies Would Impact CMBS

Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.

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States Joining Ranks of Student Loan Cherry Pickers

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.

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