The securitization follows just weeks after parent General Motors agreed to the sale of its historic Vauxhall brand line of vehicles, which comprised the bulk of securitized assets in GMACs two most recent E-CARAT platform ABS deals.
The rating agency warns that net chargeoffs and serious delinquencies (60-plus days) will continue to mount despite strong macroeconomic conditions (such as jobs growth) and tightening underwriting standards among prime lenders,
Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices, two trends long predicted by observers who noted that car loans were becoming less affordable for American consumers, particularly those with poor credit scores.
Capital One is securitizing $1.15 billion in consumer and small-business credit-card receivables, in its first asset-backed card series notes transaction since August.
In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing
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, its not clear exactly what the Commission will do.
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 Bureaus top official in charge of dealing with student loans.
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.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
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.
Treasurer, Head of Asset Management
Firm: NewStar Financial
Owning may offer consumers more savings than leasing, but loans pose a different set of risks to investors when pooled into collateral for bonds.Current Issue