Securitization

GMAC is issuing its eighth asset-backed UK transaction in a £385.8 million (US$481.3 million) bond offering backed by individual and small-business vehicle lease contracts.

Fitch Ratings says the auto loan and lease sectors will continue to experience deteriorating credit performance throughout 2017, as defaults accelerate among subprime borrowers and used-car values in decline.

Servicing practices that unnecessarily increase what a borrower owes can contribute to delinquencies. But other misconduct, such as inaccurate credit reporting, can have more insidious effects on a borrower’s financial health.

Signs of growing weakness in the U.S. auto loan market are hurting the bottom line at one of the nation’s largest car lenders.

California is hoping investors will pony up for new bonds backed by the payments it receives under the 1998 Master Settlement with tobacco manufacturers.

Presale reports were issued Monday for the $407.35 million Wellfleet CLO 201-1 and the $406.35 million NXT Capital CLO 2017-1; the two deals are the latest of four new offerings noted by ratings agencies since last week and among 14 this month.

In a report published Monday, Fitch Ratings noted that a timeshare loan securitization Marriott completed in 2012 has not experienced a net loss to date -- but only because the company is repurchasing bad loans.

Collateralized loan obligations are in such high demand that investors are increasingly willing to allow managers to actively manage portfolios for longer periods.

Capital One is securitizing $1.15 billion in consumer and small-business credit-card receivables, in its first asset-backed card series notes transaction since August.

Spire Partners priced the first new Euro-denominated CLO deal for March, the €348 million Aurium CLO III last week, according to a report published Monday by Moody's Investors Service.

Bayview Asset Management is marketing two offerings of bonds backed by mortgages that were once delinquent but are now making timely payments.

JCPenney released a list of 138 stores that the retailer plans to shutter in an effort to reduce costs and drive sales growth based on its better-performing locations.

In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing

The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau.

Five prime lenders have launched $5.5 billion in new loan- and lease-backed securitizations, including the second transaction of the year for Ally Financial.

A $165 million cash settlement has been reached in a class-action lawsuit that alleged investors were misled about the safety of mortgage-backed securities comprised of loans originated by now-defunct subprime lender NovaStar Mortgage Inc.

Capital Automotive is marketing another $900 million of bonds backed by leases on auto dealerships.

SoFi Lending Corp. is marketing its second student loan securitization of the year.

LSTAR Capital Finance is returning to the securitization market with another offerings of bonds backed by high quality, but highly leveraged commercial mortgage bonds.

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs