Santander Consumer Bank pre-placed its Svensk Autofinans 1— the first Swedish securitization of 2012.
According to a Standard & Poor's report, pricing on the deal was scheduled for Thursday, with the SEK3.9 billion ($5.92mn) senior tranche was talked at 95bp over the one month Stibor.
Fitch Ratings assigned the deal a 'AAA' rating. The securitization is backed by Swedish auto loan receivables originated by the Swedish branch of Norwegian Santander Consumer Bank AS
The proceeds from PAID 2026-R2 will fund a purchase account, which will purchase unsecured consumer loans from PAID 2024-2 and 2024-3.
Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.
Loans with original terms longer than 60 months now represent 71.7% of the pool, up from 70.4% in the prior deal.
The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.
Loans with original balances higher than $100,000 accounted for 16.1% of the pool, down from 20.3% in the 2025-2 pool of the Hilton Grand Vacations Trust.
Losses stemming from the 2022 vintage have been offset by excess spread, while cure and roll rates signal caution.
