Consumer ABS

Warning signs are growing in structured finance for 2017.

Student loan servicer Navient Corp. has extended the maturity of another $469 million of bonds backed by federally guaranteed student loans.

The Toronto-Dominion Bank, which hadn’t structured a credit-card securitization in 13 years prior to 2016, is prepping its third multi-currency notes offering of the year secured by Canadian dollar-denominated card receivables.

A group of online consumer loans that were packaged into bonds is going bad faster than lenders and bond underwriters had expected, the latest sign that some startups that aimed to revolutionize the banking industry underestimated the risk they were taking

Aaron Vermut has resigned as chief executive of Prosper Marketplace, according to a report in The Wall Street Journal.

SoFi Lending Corp. is marketing its fifth portfolio of refi student loans issued to select advanced-degree professionals. Meanwhile, the Pennsylvania Higher Education Assistance Agency is packaging its second portfolio of primarily FFELP consolidated loans, a significant portion of which carry existing or prior impairments.

Banking industry lobbyists and representatives are practically salivating over the election results, convinced that Republican control of the White House and Congress will finally give them the opportunity to roll back key parts of the Dodd-Frank Act.

Santander Consumer USA is smoothing out risk factors in its latest deep-subprime vehicle loan securitization. Drive Auto Receivables Trust 2016-C is a $1 billion offering of deep-subprime new and used retail auto and light-truck loans originated by Santander.