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Consumer ABS

News

Santander, Ally Price Subprime Auto ABS

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

Mitsubishi Prices $215M Prime Auto ABS

Mitsubishi Motors has priced a $215 million prime auto loan securitization, its first in over two years.

World Omni Prices $849M Auto Loan ABS

The class A2 notes with a weighted average life of 2.55-years yield 16 basis points over the eurodollar synthetic forward curve.

New Caps Allow European SF Ratings to Float Higher

Fitch Ratings has taken positive rating action on 150 tranches of 113 structured finance transactions that are capped relative to the sovereign ratings of Ireland, Portugal and Spain.

ACA Plans $259M Subprime Auto ABS

American Credit Acceptance plans to issue $259.17 million of securities backed by retail subprime auto loan receivables, its second public deal in 2014.

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Articles

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.

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