Consumer ABS

News

Critics Predict More Woes for Subprime Business Lenders

The recent shake-up at CAN Capital could spark greater scrutiny of a sector that has drawn comparisons to the bubble-era subprime mortgage market.

OneMain Preps 1st Consumer Loan ABS Since Springleaf Merger

The $425 million Springleaf Funding Trust 2016-A is backed by loans that are larger and less risky, by some metrics, than the previous three deals completed by the former Springleaf Finance.

HERO Platform Expands Reach in New PACE ABS

In HERO Funding 2016-4, Renovate America is pooling a targeted balance of $292.4 million in limited obligation bonds issued by three local California entities covering 36 counties to help finance solar panel installations and other energy-efficiency upgrades for homeowners.

Mnuchin Pick for Treasury May Signal Moderate Approach to Reform

Much like President-elect Donald Trump himself, expected Treasury Secretary-designate Steven Mnuchin represents something of a question mark for the financial services industry when it comes to his agenda

Santander UK Markets ABS of £647.5M in Auto Loans

Motor 2016-1 PLC is a pooling of 95,077 standard UK consumer conditional sale agreements totaling £647.5 million, structured in a six-class bond structure that includes ‘AAA’-rated senior notes, according to a presale report from Standard & Poor’s. The tranche sizes of the notes are to be determined.

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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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What’s So Unusual about Sprint’s Airwaves Securitization … and Why No One Else is Likely to Follow Suit

The wireless carrier, though only rated single-B, has more leeway from existing investors to enter into a transaction like this than even some investment-grade companies, according to Covenant Review.

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