Consumer ABS


Analytics Firm Orchard Teams with Kabbage to Sell Consumer Loans

Lending analytics firm Orchard Platform has cut a deal with alternative small-business lender Kabbage to allow institutions to invest in the latter's relatively new line of consumer loans.

Ally Prices $986M Auto Lease Securitization

Ally Financial priced a $986.60 million auto lease securitization, adding to what has been a busy first quarter for this sector.

Capital One Offering $500M 3-Yr Credit Card ABS

Capital One is marketing $500 million of three-year notes backed by credit card receivables, according to Fitch Ratings.

Ford Prices $1.6B Prime Auto Loan ABS

The class A-2, fixed rate notes, structured with a weighted average life of 1.0 year pay 25 basis points over the Eurodollar synthetic forward curve to yield 0.81%.

Ally Financial Adding Nearly $1B of Auto Lease Supply

The deal follows hard on the heels of a $1 billion offering from GM Financial, which priced this week, and another from Hyundai early in March.



Reg AB II Returns from Limbo

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, it’s not clear exactly what the Commission will do.

Student Loan Market Headed for Crisis, CFPB Warns

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 Bureau’s top official in charge of dealing with student loans.

Finra Files Proposal to Disseminate Price Data

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.

Fitch: External Factors Biggest Threat in 2014

Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.

How Big Box Bankruptcies Would Impact CMBS

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.


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With Ocwen, Enforcement Is a Balancing Act

State attorneys general continue to aggressively investigate Ocwen Financial's mortgage servicing practices, but they are also mindful that too much enforcement could cripple the company and cause major headaches for millions of homeowners whose loans Ocwen services.

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