Consumer ABS

Regulators reached a $183.5 million settlement with the court-appointed receiver of an Oregon private equity firm that could provide debt relief to 41,000 students of the bankrupt Corinthian College

Borrowers have an average FICO of 749, up two points from its earlier transaction this year and the highest of any past HART transaction; and the concentration of borrowers with FICOs lower than 650 is down four percentage points, at just 3%

ECMC Group is marketing another $500 million of notes backed by federally guaranteed student loans that were once delinquent but are now making timely payments.

Moody's believes that rules grandfathering existing transactions increase the risk that these deals could be left unhedged; it may downgrades some European RMBS and U.S. student loan-backed securities.

As of March 31, the early-stage delinquency rate was just 2.5% of total all private student loans, according to MeasureOne, up five basis points from the same point in 2016.

Nelnet's offering is backed by federally guaranteed loans; Darien Rowayton Bank's is backed by private loans refinancing the debt of borrowers with prestigious degrees and high incomes.

Barclays Bank and American Express are offering a combined $1.19 billion of bonds backed by credit card receivables, according to rating agency presale reports.

Loans with terms between 73 months and 75 months comprise 15.6% of the collateral for DRIVE Auto Receivables Trust 2017-2, up from 0.5% in 2017-1; yet Moody's Investors Service is holding its loss expectations stable.

The collateral has the highest concentration of longer-term loans of any Toyota deal to date: 42.6%; that's up 3.7 percentage point from the sponsor's previous deal.

Fitch Ratings expects net losses to reach 1.45% over the life of the deal, down from prior deals, thanks to the introduction of a selection criteria that stipulates a minimum FICO score of 650.