Santanders Drive Auto Receivables Trust 2017-A (DRIVE) is the eighth overall deeper subprime deal issued through the lenders DRIVE platform, but presents the heaviest risks of this or any other subprime ABS in the market, according to presale reports
The CFPB alleged that Navient added $4 billion in interest charges to the principal balances of borrowers by enrolling borrowers in multiple, consecutive forbearance plans instead of in cheaper, alternative repayment plans.
COAT 2017-1, underwritten by lead bookrunner Barclays, is largely consistent with previous transactions involving CAF-originated loans through 169 CarMax superstores in 84 U.S. markets.
Allegations that Chrysler used emissions tampering software could impact up to 60 auto-related securitizations. Moodys Investors Service believes any material exposure would be limited to just those sponsored by Santander Consumer USA, which sponsors captive finance transactions through its jointly managed Chrysler Capital platform.
A new plan will make it easier for borrowers to recertify for a generous repayment plan each year by providing consent for the Internal Revenue Service to electronically share tax data with the Education Department and its loan servicers
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
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.Current Issue