Consumer ABS


Volkswagen Preps $1B Auto Loan ABS

It's the issuer's first auto loan securitization of 2014. JP Morgan and RBS Securities are lead underwriters.

Moody's: Subprime Auto Lenders Up Standards

Captive lenders in the auto-loan lending space have reduced the share of subprime in their portfolios while the higher credit scores for used-car borrowers suggest healthier subprime metrics. But there's still risk, with lenders upping LTVs and terming out loans.

Sallie Mae Still Looking to Grow FFELP Portfolio

Sallie Mae is still interested in adding to its holdings of Federal Family Education Loan Program loans, even if it took a pass on a $3.6 billion portfolio that CIT sold to Nelnet this month.

Nelnet Acquires FFELP Portfolio from CIT

The transaction, which was disclosed in a regulatory filing, includes the purchase of residual interests in a total of $2.6 billion of securitized student loans and related assets and approximately $950 million of unsecuritized student loans.

Santander, Ally Price Subprime Auto ABS

Santander and Ally Financial priced a total of $2.1 billion of bonds backed by subprime auto loan receivables on Wednesday.



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.

Moving Down Market

Banks have been slow to make credit cards available again to subprime borrowers; that's starting to change.

Restoring Credit

Card issuers are again lending to weaker borrowers; It’s just a matter of time before the receivables show up in trusts.

Price Transparency and the ABS Market

FINRA’s plan to disseminate pricing on after-market transactions in asset-backed securities through TRACE should transform the market.

Banks Looks to Consolidate Auto Lending Gains

Many banks in the auto lending business have been making investments that they hope will give them a more enduring edge; to the extent that bank are less likely to securitize these loans, this could impact securitization volume.