Consumer ABS

Foundation Finance Co., which underwrites and acquires installment loans issued by third-party home improvement contractors, is launching it’s first-ever collateralization sized at $178.15 million.

Flagship Credit Acceptance’s third subprime auto loan securitization of the year is the company’s first-ever to earn an initial triple-A credit rating.

Lending standards for most business and residential real estate loans as well as subprime consumer loans are tighter than the 10-year average, according to a survey of senior bank loan officers released by the Federal Reserve Board.

Standard & Poor’s has assigned a preliminary ‘A’ rating to a €1.5 billion four-year revolving securitization of auto, motorcycle and trailer loans originated by Santander Consumer Bank AG.

Toyota and Nissan are marketing a combined $2.5 billion of bonds backed by retail auto loans.

AmeriCredit’s third subprime auto loan securitization for the year displays the company’s recent shift toward more new car originations with lengthier terms.

Wheels Inc., one of the nation’s oldest and largest vehicle fleet lessors, is back in the securitization market after a year’s absence with a pool of corporate lease contracts.

Barclays’ 13th U.S. credit card securitization, and the first for 2016, has taken a shift toward older vintage accounts in its new $609.8 million pool of receivables. Fitch, S&P have issued preliminary ratings to the Class A notes in the capital stack.

As expected, Navient is preparing another $1.0 billion securitization of federally guaranteed loans that were once delinquent but are now making timely payments.