California ruling a boon for SLABS, MPL ABS

A recent ruling in California in which the court rejected the argument that a bank that made loans on behalf of Sallie Mae was not the “true lender” is a boon for marketplace loan and student loan ABS made under partner-bank origination models.

  • By Sasha Padbidri
  • 19 Oct 2016

In the case of Jamie Beechum et al v. Navient Solutions, Inc. the US District Court for the Central District of Californiaruled that Stillwater National Bank, which originated student loans on behalf of Sallie Mae, could collect on the debt even though interest rates exceed state usury caps.  

The ruling ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access: mark.goodes@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,778 8 23.33
2 Citi 5,854 5 20.15
3 Goldman Sachs 4,763 3 16.39
4 Societe Generale 1,506 3 5.18
5 Rabobank 1,413 2 4.86

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Apr 2017
1 Bank of America Merrill Lynch 27,433.88 76 12.99%
2 Citi 23,614.35 69 11.18%
3 Wells Fargo Securities 21,630.20 63 10.24%
4 JPMorgan 16,107.68 46 7.63%
5 Credit Suisse 12,216.35 32 5.78%