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The senior notes benefit from initial credit enhancement of 29.5%, nearly three percentage points higher than the same tranche of the sponsor's previous transaction.
July 7
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Angel Oak was able to secure triple-A credit ratings for its next offering of nonprime residential mortgage bonds, despite offering considerably less credit enhancement.
June 28
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The marketplace lender had to offer higher investor protections on a consumer loan securitization than rival Upstart, but it also achieved a lower funding cost
June 20
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The lender increased credit enhancement for the subordinate tranches of Springleaf Funding Trust 2017-A to offset lower FICOs and larger balances.
June 19
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As of late Thursday, there were two bond offerings backed by prime auto loans (Ford, Honda), three backed by subprime auto loans (Santander, GLS, UACC) and two backed by dealer inventory financing (Ally, Navistar).
June 16
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Two more subprime auto lenders, Westlake Financial Services and Flagship Credit Acceptance, are making their first trips of the year to the securitization market.
February 26
