Consumer ABS


Credit Unions May Soon Join Ranks of Auto Securitizers

While a proposed rule applies to all kinds of loans, Moody’s 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.

Are FHLBs the Answer to Jump-Starting Securitizers?

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.

Mercedes Benz Plans Euro €800 Auto Loan ABS

Silver Arrow Compartment 5 will be Mercedes-Benz Bank's fourth German publicly-rated asset-backed securities transaction.

SEC Mandates More Disclosure, but Only for RMBS, CMBS, Autos

The requirements do not apply to student loans, equipment loans or leases, or covered bonds; privately offered securities are also excluded.

DOJ Probe Still Weighing on New-Issue Subprime Auto ABS

Ally Financial priced its latest subprime auto loan securitization, Capital Auto Receivables Asset Trust 2014-3, wider that the levels seen in Americredit’s Aug. 22 print.



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.

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