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Santander Consumer Continues Aggressive Push into Subprime

By Kristin Broughton

Santander Consumer USA Holdings isn't backing off of its aggressive play for borrowers with blemished credit, even as the company's auto lending practices remain under intense scrutiny from regulators


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Ocwen "Optimistic" It Can Resume Purchasing MSRs, Eventually

– Once it resumes purchasing mortgage servicing rights, Ocwen plans to partner with New Residential to either finance related advances, similar to the arrangement the company with its Home Loan Servicing Solutions affiliate.

CarMax Returns For Third Round of Securitization Funding

– CarMax has slightly increased the number of loans with terms greater than 60 month to 58.8% from 57.4% in the 2015-2 deal.

AmeriCredit Preps 3rd Subprime Auto Deal of Year

– AmeriCredit Automobile Receivables Trust 2015-3 will issue three tranches with preliminary ‘AAA’ rating from Fitch Rating that benefit from credit enhancement of 34.7%.

Duke Energy to Finance Retirement of Florida Nuclear Power Plant via Securitization

– Duke anticipates that the bonds will have triple-A ratings from at least two nationally recognized rating agencies. It expects to offer them to investors via a public offering.

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Featured Articles

What to Watch for as Treasury Examines Marketplace Lending

– Marketplace lenders see the agency's interest, which appears to stem largely from a belief in the industry's innovative promise, as validation for a sector that barely existed just a few years ago.

The Next Big Thing in Cat Bonds: Prevention

– A venture between Goldman Sachs, Swiss Re, RME, The Rockefeller Foundation and consultancy re:focus partners is searching for a way to structure a “cat-like” bond for infrastructure that’s designed to make cities more resilient to natural catastrophes.

Has Solar Securitization Lost A Potential Issuer?

– SunEdison is buying Vivint Solar. Its plans for the second largest solar developer mean securitization is definitely not the cards.

‘No Action’ Letter Provides CLOs Limited Relief from Risk Retention

– It provides limited relief from risk retention rules for pre-2015 vintage CLO notes that are refinanced after December 2016.

Ford's Car-Sharing Experiment and the Future of Auto Finance

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Forbearance Puts FFELP Bonds At Risk of Default

– Taxpayers aren’t the only ones on the hook when Uncle Sam gives borrowers more time to pay off their student loans; investors in student-loan backed securities are also paying a price.

FHLB Membership Plan Deals Blow to Delicate Housing Market

– The Federal Housing Finance Agency wants to exclude mortgage real estate investment trusts from membership in the Federal Home Loan Banks. That would be a major setback for the entry-level borrowers who depend on mortgage REITs for sustainable home-financing options.

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