Springleaf $2.62bn ABS follows servicing divestment

By Ryan Bolger
15 Sep 2014

Springleaf Finance, along with New Residential Investment Corp. and Blackstone Tactical Opportunities Advisors, intends to issue $2.62bn worth of personal loan ABS from a joint venture entity called SpringCastle. The issue comes just a month after Springleaf announced plans to unwind its mortgage servicing operations.

Springleaf agreed to sell $7.2 billion in legacy mortgage and accompanying servicing assets last month in line with the consumer lender’s efforts to reduce its debt burden. Many of Springleaf’s mortgage servicing centers were shut down in accordance with the asset sale.   

The home mortgages underlying the ...

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