Consumer ABS

Navient is marketing $259 million of securities backed by private student loans it sponsored and services.

Losses on the subprime auto loans that are bundled into bonds are creeping higher. In a release today, Fitch Ratings said the figure hit 8.05% in October on an annualized net basis, from 7.61% a year earlier.

The banking industry won a small victory this month when the House voted to nullify Consumer Financial Protection Bureau guidance that had led to recent auto lender settlements, but the real battle over the bill and its potential impact is just beginning.

The Consumer Financial Protection Bureau took "misguided and deceptive" actions in extracting settlements from indirect auto lenders for possible discrimination against minorities, House Republicans said in a report issued Tuesday.

Despite tighter scrutiny from regulators, the issuance of bonds backed by subprime auto loans could reach their pre-crisis peak next year.

Is it time for asset-backed deals to go back to Treasurys as their pricing benchmark? This is a question that researchers at J.P. Morgan are posing to the market.

Santander Consumer reported an uptick in loan modifications, a sign that the auto lender is continuing its aggressive play for subprime borrowers.

U.S. consumers are shouldering record levels of debt to get behind the wheel of an automobile.

Darien Rowayton Bank plans to securitized a portfolio of refinanced private student loan debt, according to DBRS.

Fitch Ratings is proposing changes to the way it rates bonds backed by government-guaranteed student loans to account for the slower pace at which these loans are being repaid.