Chase Bank plans to issue a $500 million credit card securitization that could be upsized based on investor demand.
The class A 2014-1 issuance follows Discover Bank’s recently priced credit card deal. That deal was upsized to $800 million from $500 million. This is Chase first securitization of 2014.
JP Morgan, Barclays and RBC Capital Marketsare the lead underwriters on the deal, according to a deal prospectus filed with the Securities and Exchange Commission.
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
