FINRA charged that Santander Securities sold municipal bonds to clients at unreasonable prices.
Source: Bloomberg News

A couple of ABS deals have joined the pipeline this week.

Santander, for its part, has a $791 million auto deal coming down the pike, according to a release from Moody’s Investors Service, which has rated the longer-dated senior pieces ‘(P)Aaa (sf)’ and a short-dated tranche ‘(P)P-1 (sf).’

The deal is the seventh subprime auto deal — and the first private one — from Santander this year.

A summary of the tranches from Moody’s presale is below

The underwriters for the transaction are J.P. Morgan Securities, Credit Suisse, and Wells Fargo Securities.

Also in the pipeline is another Moody’s-rated deal — CIT Education Loan Trust 2012-1. The deal has a single $420 million tranche, rated ‘(P)Aaa (sf).’

The collateral consists of FFELP students loans. ‘[These are] indirectly guaranteed by the U.S. Department of Education for a minimum of 97% of defaulted principal and accrued interest,” Moody’s said.

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