Consumer ABS


Hyundai Back with $747.8M Auto Lease Securitization

The $747.76 million transaction, called Hyundai Auto Lease Securitization Trust (HALST) 2015-B, will be rated by Fitch.

U.S. Education Dept. Finds Student Loan Servicers Not Overcharging Troops

The results come 12 months after the Department of Justice announced a $60 million settlement with Navient after concluding that the servicer had improperly denied benefits to active-duty military personnel.

Slippery Language Confuses the Debate Over Auto Lending Risk

At a time when regulators, prosecutors and the media have stepped up their scrutiny of subprime auto lending, some in the industry have changed their definitions of key terms in ways that downplay the risks involved.

Ally Marketing $500 Auto Dealer Floorplan ABS

Ally Bank plans to issue $500 million of securities backed by receivables collected from lines of credit it makes to dealerships.

Exeter Finance Hires Freddie Mac Executive as CFO

Exeter Finance has hired Freddie Mac executive Paige H. Wisdom to be its chief financial officer.



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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How CLO Managers Are Preparing for Risk Retention

It's one of the biggest regulatory hurdles the market has faced since the financial crisis, and promises to bring wholesale changes to the structures of transactions as well as to the business models of managers. Clifford Chance partner Steven Kolyer weighs in.

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