A shift in focus by the two biggest subprime lenders, Santander and Americredit, from subprime to prime lending will give their smaller competitors room for growth, according to John McElravey, head of consumer ABS research at Wells Fargo Securities.
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Fifth Third and California Republic Bank priced a total of$1.7 billion of auto loan backed securities Wednesday
June 5 -
The European Central Bank said this morning that it would intensify its preparations to buy asset-backed securities in order to stimulate Europe's market for the assets and help boost the flow of credit to smaller companies.
June 5 -
J.P. Morgan Chase Commercial Mortgage Securities trust 2014-C20 will issue $486 million of super-senior notes that have credit enhancement at 30%.
June 5 -
Consumer Portfolio Services is planning its second subprime auto loan securitization of the year, according to a presale report published by Standard & Poors.
June 4 -
Citibank priced an upsized $850 million credit card securitization, bringing year-to-date issuance from the banks credit card issuance trust to $6.2 billion.
June 4
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American Bancorp. in St. Paul, Minn., went into liquidation last week when managers of collateralized debt obligation backed by its trust preferred securities pressed for involuntary bankruptcy to collect debt and unpaid interest.
June 4
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CNH Industrial Capital America has priced its latest equipment lease securitization at similar spreads to its previous deal, completed in February.
June 4 -
Jim Ahern has been named Moodys Investors Service's head of structured finance in the Americas.
June 4 -
Americredit Financial Services priced the short-term, one-year, fixed rate class A notes issued fromAmeriCredit Automobile Receivables Trust 2014-2 priced at 28 basis points over the eurodollar synthetic forward curve.
June 4 -
The $405 million tranche of AAA-rated class A notes issued from the CSMC Trust 2014-ICE trust priced at 80 basis points over one-month Libor.
June 4 -
Americredit is coming down the pike with another securitization of subprime auto loans, according to a pre-sale from Moodys Investor Service.
June 3 -
Volkswagen has obtained ratings from both Fitch Ratings and Moodys Investors Service on its $800 million renminbi ($128 million) securitization of Chinese auto loans.
June 3
