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Moody's Investors Service has concluded its ratings review on 31 securitizations of federally guaranteed student loans sponsored by Navient Solutions to account for the slower rate of repayment of the collateral.
September 18 - Europe
E-Carat S.A., Compartment 9 is comprised of two series of rated notes of undetermined size, backed by a pool of 513.5 million in loans.
September 15 -
Synchrony Credit Card Master Note Trust 2016-3 Notes, an upsized $767.1 million structure of two senior classes of securitized bonds, priced near par on Wednesday at a coupon of 1.58% over Libor for the $700 million Class A notes stack, and 1.91% on a $49.9 million Class B notes slice.
September 15 -
Chase Bank, Discover, RBC and Alliance Data Systems Corp. through subsidiary Comenity Bank each received preliminary triple-A ratings for their new card-backed securitizations. The largest of the deals, Chases $1.1 billion Chase Issuance Trust 2016-7 through its ChaseSERIES platform, closed Monday.
September 14 -
SoFi Lending Corp. is in the market with another $436.67 million of notes backed by private student loans.
September 13 -
The Consumer Finance Protection Bureau has ordered Bridgepoint Education to refund $23.5 million to students it alleges were deceived into taking out private student loans that cost more than advertised.
September 12 -
Over the past year JPMorgan Chase has rapidly expanded its credit card business, in part by attracting new customers with spotty credit histories; But rest assured that the company is only dipping its toe into the pool of subprime borrowers, says Gordon Smith, chief executive of JPMorgan's consumer and community bank
September 12
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Orico (or Oriental Corp.), a Japanese finance company partly owned by Mizuho Financial Group, is structuring a $362.2 million asset-backed portfolio of U.S. dollar denominated notes backed by yen-denominated prime auto loans issued to individual and corporate borrowers in Japan
September 12 -
This week, nine auto loan- and lease-backed deals totaling $7.1-$7.4 billion (including a potential upsizing) took the on-ramp to the securitization market, reversing a slow summer of new issuance.
September 8
