Student loan ABS

The collateral will include $147.3 million in well-seasoned loans that were part of HESAA’s 2009 issuance, as well as up to $155 million in new loans that the trust will originate through an Oct. 31, 2020 prefunding and recycling period for the next academic calendar year.

Navient Corp. is returning to all fixed-rate collateral for its next securitization of refinanced private student loans issued via its Earnest affiliate to high-earning college graduate professionals.

Nelnet's second ABS of federally insured private student loans consists entirely of formerly delinquent FFELP loans that are back in current status.

SLM Corp. wants to "target the people our competitors are targeting and bring on their federal balances" CFO Steven McGarry said during an earnings call.

Since most U.S. securities transactions are subject to New York law, it could be expedient to pass legislation defining Libor as SOFR plus a spread, says David Bowman, special adviser to the Fed.

Navient Corp. shares surged after Canyon Capital Advisors said it could boost a $3.1 billion takeover offer that was rejected by the student-loan servicer.

For the first time in almost two years, borrowers are taking out floating-rate loans to refinance their student debt. So Navient is testing investor appetite for floating-rate bonds backed by refinance loans.

Now that the noncompete has expired, Navient plans to market private student loans to borrowers in school; the servicing giant is also free from restrictions on marketing refinance loans through Earnest.

The company has filed a request with a federal judge in Pennsylvania for a summary judgment in two counts against it, accusing the bureau of failing to provide evidence.

Physicians account for 28.8% of borrowers in the collateral pool, up from 22% for SoFi's previous student loan securitization, according to Moody's Investors Service. Notably, fewer of these, 4.2% versus 7.8%, are in residency programs.