Consumer lending

The credit characteristics of the collateral are broadly similar to the sponsor's inaugural deal, completed in February, but the capital structure has been tweaked.

The collateral pool has a slightly higher percentage of new vehicles (24.53%) than the sponsor’s previous deal, and a shorter remaining weighted average term (62 months).

Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states.

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.

AutoGravity of Irvine, Calif., has received $30 million in equity financing from VW Credit, according to a source familiar with the matter.

A new report from the American Bankers Association reinforces existing concerns about the ability of U.S. consumers to manage all of their debts.

Loans between 61 and 72 months at origination decreased to 49.5% of the collateral for GM's latest transaction, down from 51.3% from the sponsor's April deal.

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.

Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service.

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

The lender increased credit enhancement for the subordinate tranches of Springleaf Funding Trust 2017-A to offset lower FICOs and larger balances.

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).

Two more subprime auto lenders, Westlake Financial Services and Flagship Credit Acceptance, are making their first trips of the year to the securitization market.