Consumer ABS

Ford Motor Credit is marketing another $1.08 billion of bonds backed by prime auto loans.

A federal appeals court agreed Thursday to scrap an earlier ruling against the Consumer Financial Protection Bureau's constitutionality, saying it will revisit the issue at a hearing on May 24, while also opening the door to discuss a new wrinkle in the case.

Hilton Grand Vacations Trust 2017-A is a $350 million, two-note structure backed by more than 16,000, prime-borrower timeshare loans representing the company’s third overall asset-backed transaction since 2013.

The San Francisco company reported a $32 million loss during the fourth quarter, bringing its losses for the full year to $146 million. For the sake of comparison, Lending Club reported profits of $4.6 million in the fourth quarter of 2015.

The risk of disruption during a potential servicing transfer is worse for bonds backed by private student loans than for bonds backed by federally guaranteed student loans.

Royal Bank of Canada is securitizing its first U.S. dollar-denominated credit-card receivables portfolio of the year in an asset-backed transaction through the Golden Credit Card Trust.

Consumer Financial Protection Bureau Director Richard Cordray has managed to keep his job for more than two weeks into a Trump administration, despite repeated calls by House Republicans for him to be fired.

Ally Financial is marketing $664.45 million in notes secured by the receivables on inventory credit lines it underwrites for dealers primarily franchised with General Motors and Chrysler USA.

Mariner Finance is prepping a first-time $225 million asset-backed notes issuance supported by nearly 90,000 subprime and nonprime personal loans. Over 60% of the loans in the 'BBB+'-rated deal are unsecured and nonprime.

Subprime auto lenders Credit Acceptance Corp. and First Investors are marketing a combined $575 million of asset-backeds.