Student loan ABS

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.

So far, consumers have not had much voice in the discussion of a suitable replacement for the benchmark rate; lenders and servicers want to limit any harm, and their liability.

The collateral for Navient Private Education Refi 2018-1 is similar to that of Earnest's previous deal, completed in May, but it is rated two notches higher, at, AAA by S&P Global Ratings.

Refi loans that the servicing behemoth is making through Earnest do not require the same amount of seasoning as new in-school loans, and so can be securitized much sooner.

The nation's largest private student lender plans to use $30 million of its anticipated tax-cut windfall to speed up its diversification plan and strengthen its digital capabilities.

The $720.1 million SoFi Professional Loan Program 2018-A is only slightly smaller than its final deal of 2017, which was upsized in response to strong demand.

Marketplace lenders bringing securitization in-house seized the top spot in 2017; readers also focused on Blackstone's big entry into an esoteric corner of the CRE market and the PACE industry's embrace of consumer protections.

Navient and Nelnet avoided downgrades on $19.5 billion of bonds with the help of recent technological innovations; this helped restore investor confidence, allowing them to resume issuance.

At the end of September, the share of loans in MeasureOne’s private student loan database in forbearance was 2.88% of the outstanding balance, up 26.81% on the year.

Risks include a high geographic concentration and a not insignificant exposure to loans that have either been rehabbed or are now delinquent.

The two Democratic lawmakers sent a letter Monday to the four largest servicing companies asking them to address borrower complaints.

ReliaMax is an unusual kind of marketplace lender that says it can help regional and community banks take advantage of business opportunities in private student lending.

By comparison, rehabilitated loans accounted for just 19.5% of the collateral for the servicer’s July offering and 10% of its May offering.

Introducing limits on federally guaranteed loans to graduate students, instead of letting them borrow whatever schools charge, would create a multibillion-dollar opportunity for private lenders.

For now, performance continues to improve, but the percentage of borrowers of traditional private student loans seeking temporary payment relief rose to 2.5% from 2.0% as a result of Hurricanes Harvey and Irma.

Residents' low incomes usually disqualify them for standard student loan refinancings, but SoFi and other lenders describe these borrowers as strong credits with high earnings potential who could offset some of the risks lurking in student loan pools.

The $300.3 million deal will include both senior and senior-surbordinate notes secured by both floating-rate and fixed-rate loans.

Initial credit enhancement on the senior notes to be issued has risen to 17.5% from 16.8% for the lender's previous securitization, but the target level is unchanged at 30%.

The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively.

A bipartisan coalition of AGs and officials representing 25 states sent a letter to Education Secretary Betsy DeVos today urging the department to reject what they said was a campaign to dismantle state oversight of the industry.