The GSE recently transferred $166 million portion of risk on $11.1 billion of loans via contracts with seven reinsurers and insurers; it plans to come to market two or three time a year going forward.
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The deal benefits from lower credit enhancement requirements after pooling higher FICOs and more seasoned contracts; but residual values continue to decline for the German automaker.
October 5
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Consumer Portfolio Services' fourth auto-loan securitization of the year has a 3.97% share of loans previously assigned to CPS asset-backed portfolios, compared to an 11.97% share in its last transaction.
October 4
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Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending.
October 4
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DriveTime is making less-risky loans under a $750 million contract purchase agreement with Ally Financial; it appears that the sponsor is also funding some of this lending through its own securitization platform.
October 4
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The firm's fourth deal of the year has loss projections less than half of its earlier deals, with an influx of aged, pre-crisis option ARM loans with little delinquency history.
October 3
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A two-year-old lawsuit by the CFPB may be languishing, but nine members of the Teachers Federation of America sued the student loan servicing giant alleging that it misled borrowers in public service professions in order to line its pockets.
October 3
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FASST 2018-1 has a lower weighted average loan-to-value ratio than prior deals by either the sponsor or rival Nationstar; this lessens the risk of loss, though liquidation timelines may be longer.
October 3
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The $226.5 million transaction looks very similar to the previous one; the heaviest concentration of receivables is long-haul trucks (23.3%), followed by trailers (21.2%), heavy equipment (11.9%) and short-haul trucks (9.3%).
October 3
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Two of the three largest loans in the $951 million deal are $50 million slices of loans on the Aventura Mall in Florida and the Christiana Mall in Delaware.
October 3
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The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections."
October 2
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A growing number of asset managers are waking up to the opportunity to lend to small and medium-sized companies, and much of this direct lending is making its way into the securitization market.
October 2
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The four-year-old transaction is still in its original reinvestment period, but the collateral has had growing levels of defaulted and triple-C rated assets.
October 2
