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Lauren Hedvat, Angel Oak's managing director of capital markets, said that the rising non-qualified mortgage volume in the market has expanded the number of third-party origination loan packages for purchase.
June 27
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In Santander Consumer USA's third subprime shelf offering of 2018, new cars represent 55.8% of the collateral. In previous deals dating to 2013 new-car concentrations did not exceed 40.9%.
June 15
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Global Lending Services returns to double-A status in its new $299.4M transaction, while American Credit Acceptance issued another AAA-rated deal with a substantial prefunding account feature.
June 7
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Despite a steep drop in average FICO and increase in extended-term loans, DriveTime is shaving overcollateralization levels thanks in part to improved performance from its outstanding securitization portfolios.
June 1
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The borrowers behind the $401.6 million COLT 2018-2 have weighted average liquid reserves of $426,633, or nearly twice the level of borrowers backing a deal completed in January.
May 29
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It’s not just weaker underwriting and higher household debt levels that are driving past-due rates to their highest levels in seven years.
May 23
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The post-recession boom in auto loans and credit cards for borrowers with marred credit histories has been winding down in recent months.
May 17
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The Dallas-based lender, a unit of the global banking giant Banco Santander, was able to lower credit enhancement on the senior notes to 63.55% from 65.25% on the previous deal in February.
May 10
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AmeriCredit returns to securitization for the first time since November with a $1.1 billion deal, while Flagship's $223 million deal, its second of 2018, takes a step back in collateral quality.
May 9
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The senior tranche of Credit Acceptance Auto Loan Trust 2018-2 benefits from initial credit enhancement of 51.61%, up from 49.93% in a February deal; it comes from additional subordination.
May 9
