Consumer lending

The outlook for World Omni Auto Receivables Trust, 2019-C should hinge in part on the capabilities of World Omni in the role of originator, underwriter and servicer. So it is probably a boon to the deal that Fitch Ratings says it believes that the company is capable in all those roles.

Due to come to the market in November, Juniper Receivables 2019-2 DAC will issue about $2.1 billion in securities backed by retail auto loan contracts.

A growing percentage of Santander Consumer USA Holdings Inc.’s subprime auto loans are turning out to be clunkers soon after the cars are driven off the lot.

Subprime auto finance company Global Lending Services brought $300 million in notes to the asset-backed securities market GLS Auto Receivables Issuer Trust 2019-4.

CommonBond is coming to the securitization market again with another trust that uses the highly selective prefunding period feature to issue notes backed by private, refinanced student loans.

The $450 million DT Auto Owner Trust 2019-4 has a pool balance of $519.7 million, an average balance of $17,125 per account and an 84.21% share of loans with terms over 60 months.

In her second day of congressional testimony, Kathy Kraninger took heat from Senate Democrats for weighing in on constitutional questions about her agency and for her enforcement track record.

According to presale reports, the fixed-rate loan collateral in Angel Oak Mortgage Trust 2019-5 makes up 77.8% of the new collateral, compared to just 35.5% in Angel Oak’s previous deal that priced in July.

While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.

CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.