Finance

Ford issued its second ABS pool of retail auto loans this year in its $1.32 billion Ford Credit Auto Owner Trust 2016-B platform, which is the automaker’s fourth overall Reg AB II-compliant transaction. Nissan is looking to price the Nissan Auto Receivables 2016-B Owner Trust that will market $1.2 billion in notes of new and used prime auto loans.

Kroll Bond Rating Agency added its voice to the chorus of credit rating agencies downplaying the risks of mortgages that fail to comply with new consumer disclosure rules.

The prodigious growth of marketplace lending has been fueled by the seemingly insatiable appetite of hedge funds and other yield-hungry investors. But in recent months, much of that institutional money has fled the market just as quickly as it arrived.

Credit managers are less pessimistic about widening spreads over the next three months, but are growing more worried about a worsening global corporate default trend, according to the latest quarterly IACPM survey.

Morningstar has issued preliminary ratings on a small pool of $59.7 million in prime- and subprime-rated motorcycle loans through ThunderRoad Motorcycle Trust 2016-1.

The long-time slump in oil prices is negatively affecting a narrow band of CLOs and asset-backed securities invested in energy industry assets. But the lower fuel costs are bringing improved consumer payment performance on mortgages and car loans, according to Moody’s.

Federal appeals court judges hearing a case challenging the constitutionality of the Consumer Financial Protection Bureau appeared highly receptive to arguments that the agency's single-director structure violates the Constitution.

This is the third GSE risk-sharing bond issuance that Fannie Mae has issued this year, and also the fourth that exposes investors to actual losses – rather than estimated losses – of the underlying single-family mortgages.

Carlyle Global Market Strategies Euro CLO 2016-1 was launched with target par of €400 million (US$457.1 million). Credit Suisse Asset Management is also looking to issue €400 million in notes through Cadogan Square CLO VII B.V.

The U.S. Court of Appeals for the D.C. Circuit will hear oral arguments Tuesday about the Consumer Financial Protection Bureau's structure, in a case that has national implications. Even though a ruling isn't expected until the end of the year, legal experts say there are four major legal issues involved.

The CommonBond Student Loan Trust 2016-A is a $153.2 million, three-tranche notes offering comprised almost entirely of loan refinancings through CommonBond or its partner institution, The Bank of Lake Mills in Watertown , Wis.

Discover Card Master Trust (DCMT) 1 is issuing a pool of $500 Million DiscoverSeries Class A notes (2016-2) and a $250 million Class A notes (2016-3), according to a filing Friday with the Securities and Exchange Commission.

Goldman Sachs Group will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving allegations that loans weren’t properly vetted before being sold to investors as high-quality bonds.

Napier Park Global Capital it preparing to price its first CLO in nearly 18 months through its Regatta platform in a $411 million transaction arranged through Morgan Stanley.

The Revitalization Corp. of the Puerto Rico Electric Power Authority submitted proposed securitization charge-setting mechanisms to the Puerto Rico Energy Commission.

New lender disclosure requirements aren’t just disrupting the market for private-label mortgage bonds; they could also impact the market for bonds that transfer credit risk of mortgages insured by Fannie Mae and Freddie Mac to the private sector.

Ascentium Capital LLC is issuing a new equipment receivables trust that “relevers” the overcollaterization and interest assets of a previous securitization it has sufficiently paid down, according to sources.

Topped by a $355.6 million, triple-A rated Class A notes tranche, the Hertz Fleet Lease Funding (HFLF) LP Series 2016-1 carries similar structures to the previous issue in the 2015-1 version, with the exception of the inclusion of a split floating-/fixed-rate split of Class A notes.

Charlie Hallinan, who pioneered the tactics payday lenders have used for years to stymie state regulators, was indicted Thursday on federal conspiracy and fraud charges.

Consumer Portfolio Services, American Credit Acceptance, Santander Consumer, and CarMax launched four securitizations of subprime loans (CPS and ACA), prime loans (CarMax), and in the case of Santander’s Chrysler Capital, something in between.