While a proposed rule applies to all kinds of loans, Moodys Investors Service expects that auto loans are the most likely asset to be securitized. Auto loans have been credit unions fastest growing asset class for two straight years and are the most widely offered product.
Much of the input the Treasury Department has received on jump-starting private label mortgage securitization endorsed obvious steps; but there were some newer ideas.
Silver Arrow Compartment 5 will be Mercedes-Benz Bank's fourth German publicly-rated asset-backed securities transaction.
The requirements do not apply to student loans, equipment loans or leases, or covered bonds; privately offered securities are also excluded.
Ally Financial priced its latest subprime auto loan securitization, Capital Auto Receivables Asset Trust 2014-3, wider that the levels seen in Americredits Aug. 22 print.
Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.
The swelling trillion-dollar student loan market is missing key data and regulations necessary to head off another financial crisis, according to Rohit Chopra, the Consumer Financial Protection Bureaus top official in charge of dealing with student loans.
The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
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As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.Current Issue