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Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 18-24September 24
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Shares of the company surged 31% in New York on Tuesday after it projected record revenue and profit margins. The stock has rallied almost 150% this year as Americans have turned to buying household essentials, entertainment and, increasingly, used cars online.September 23
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Market conditions allowed for a larger bond issuance, as well as interest rate pricing that was less than half that of the coupons the captive-finance lender offered investors from its prior May issuance of auto loan asset-backed securities.September 22
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The loans, which are not federally guaranteed, are refinancings of student-loan debt held by prime borrowers primarily with advanced medical degrees.September 18
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Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 11-17September 17
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The captive-finance lender for U.S. Mercedes-Benz deals closed on its second transaction of the year, and the first auto-lease ABS to price since July.September 16
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Liberty Lending, Upstart Network and Regional Management Corp. are looking to price bonds backed by pools of unsecured consumer loans, amid market worries about the sectors' potential challenges during the COVID-19 outbreak.September 14
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Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 4-10September 11
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The ratings agency reports that the MPL industry might reckon with a potential spike in defaults as borrowers are rolled out of two- and three-month COVID-19 hardship programs.September 9
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Both Moody's and DBRS Morningstar project elevated credit-loss levels for the auto lender, compared to prior deals, due to COVID-19 uncertaintiesSeptember 8
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Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.September 8
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The captive-finance arm of General Motors is the first automotive lender this year to launch a securitization to finance inventories as dealerships rebound from COVID-19-related economic stresses.September 3
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The share of 78-month loans is at 14.9%, compared to approximately 10% in World Omni's previous issuance from its subprime/nonprime shelf.September 2
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Although the 3.41% forbearance rate is down from two prior Navient refi deals, it remains far above what has been the low historical payment deferral and workout rate for its refinancing program for advanced-degree professionals.August 27
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The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.August 25
