Consumer ABS

FICO launched an analytic advance that substantially improves lenders’ ability to identify borrowers at risk of strategic default on mortgages.

The hit to mortgages Wells Fargo & Co. reported Wednesday echoes the story of many banks this earnings season. The problem for Wells is that home loans are a bigger part of its business.

Capital One Financial Corp.'s net income rose nearly 60% in the first quarter as the credit card lender's chargeoffs fell and it set aside less money for future loan losses.

Regulators have removed a major barrier in CIT Group's plans to act more like a bank.

The Royal Bank of Canada is marketing a new credit card securitization deal from its Golden Credit Card Trust.

The average U.S. credit card chargeoff rate for most major issuers remains on track to continue declining for at least the next few months, according to analysts at Moody's Investors Service.

Consumer Portfolio Services (CPS) is marketing a subprime auto ABS called Consumer Portfolio Services Auto Receivables Trust 2011-A. The $104 million deal is being managed by UBS.

The European Union (EU) and U.S. regulators might be on the same page when it comes to trying to get the securitization market to be more risk averse. However, their different approaches have left a gap that needs to be eventually bridged, industry sources said .

World Omni Financial Corp. filed a preliminary prospectus with the Securities and Exchange Commission (SEC) to issue a $716.8 million auto lease ABS under its World Omni Automobile Lease Securitization Trust 2011-A.

The European Central Bank (ECB) is reportedly publishing a letter later this month outlining plans for a data warehouse of underlying loans that back ABS deals.