Consumer ABS


CFPB Fines First Investor Financial over Flawed Credit Reports

The order alleges the Texas-based subprime auto lender knew there was a flaw with its computer system that led to incorrect credit profiles being reported to the credit reporting agencies, but did not fix the problem.

Consumer Credit Default Rates Dip in July: S&P/Experian

Bank card default rates experienced the biggest month-over-month drop of 16 basis points, to 2.86%.

Price Talk Widens on Americredit Subprime Auto ABS

The spread might be wider for Americredit's 2014-3 deal because it's the first subprime auto loan securitization to come out after the Department of Justice launched a probe into subprime underwriting and securitization practices.

AmeriCredit Tests Market for Subprime Auto Paper

The credit quality of the loans backing AmeriCredit’s latest offering is in line with that of its two prior deals of this year, according to Moody’s Investors Service.

Subprime Auto Worries Overblown: N.Y. Fed Economists

The resurgence of subprime auto lending has stoked fears about poor underwriting and drawn parallels to the subprime mortgage debacle , but a group of economists at the Federal Reserve Bank of New York say there is no reason to panic.



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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China Auto Securitization Gears Up

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