Consumer ABS

A new refinance mortgage offered by Social Finance, better known as SoFi, lets consumers tap into their home equity to pay down student loan debt at terms more favorable than a traditional cash-out refi.

A Washington, D.C.-based startup that finances higher education in the U.S. for international students announced a $6 million equity funding round.

Huntington Bancshares, which hasn’t made a trip to the securitization market since June of last year, will be offering $2.6 billion in bonds backed by auto and commercial loan receivables during the fourth quarter.

A recent federal court decision affirming the right of a servicer to collect on private student loans originated on Sallie Mae’s behalf isn’t just good news for investors in student loan-backed securities; it’s also good news for marketplace lending platforms.

A German consumer finance arm of Crédit Agricole is securitizing its third rated pool of unsecured consumer loans in a €1.3 billion (US$1.48 billion) transaction.

Lending Club is pivoting back to the strategy it was pursuing prior to the abrupt ouster of its chief executive officer in May.

A single class of floating-rate Class A notes totaling $896 million is being issued through the Navient Student Loan Trust in the seven-death conducted by Navient this year.

Several banks, including Fifth Third Bancorp and Citizens Financial Group, plan to scale back indirect auto lending, citing increased competition and narrowing spreads. Others are reducing exposure by selling off large chunks of auto loans — though they remain committed to auto lending.