Consumer lending

BMW Financial Services is launching its first U.S. auto-loan securitization in two years, while Daimler AG's U.S. captive finance arm is proposing a $1.3 billion to $2 billion pooling of luxury auto leases.

Improved underwriting allowed the lender to secure AAA ratings despite offering the lowest credit enhancement on senior SDART notes in three years.

The lender's first deal of the year is sized at $750 million, in line with its two prior offerings, but the amount of collateral has been significantly increased, to over $1 billion.

The agreement marks the latest example of the banking giant teaming with a fintech to speed up delivery of services to its customers.

The milestone marks the end of a seven-year-long recovery in the credit card market that followed the Great Recession.

The first issuance on its Finsbury Square platform marks the specialty mortgage originator's seventh securitization since 2010.

Rather than jump right away into lending to car buyers, Access National will start by offering CRE and M&A financing to dealerships.

The first subprime auto ABS deal for 2018 is the 30th overall for Consumer Portfolio Services, with caters to deep subprime borrower pools.

Fannie Mae's serious delinquency rate climbed to a high not seen since March 2017, but remained lower than it was 12 months prior.

Some were sold at discounted prices, while others were shut down by their acquirers or quietly ceased doing business.