Consumer ABS

Banks are losing auto finance market share to captive lenders and finance companies, according to a new report from the credit bureau Experian.

Is Fitch Ratings going easier on bonds backed by federally guaranteed student loans than Moody’s Investors Service? That’s the conclusion of analysts at Barclays.

A jump in lending in many parts of Europe, coupled with rising economic growth and higher employment, should help bolster the performance of securitizations in Europe, according to Fitch Ratings.

LoanDepot closed its first securitization of personal loans today, the company announced in a press release.

The sponsor will securitize a RM3 billion ($469 million) portfolio of auto loans extended to borrowers in China.

BNP Paribas Personal Finance, a subsidiary BNP Paribas, plans to resume securitizing personal consumer loans via its Noria platform.

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.