Latest news
Latest news
Third deconsolidation RMBS from a UK challenger bank since November
Parliament’s draft amendments are kinder to the market than Commission's
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The ousting of Sajid Javid as the UK's chancellor of the exchequer has been interpreted in financial markets as a power grab by prime minister Boris Johnson. Javid's removal is likely to strengthen the government’s bias towards populist economics, “rewriting the Treasury’s fiscal rules”, according to one investor. -
Issuance of ABS backed by marketplace loans is expected to get a boost this year, supported by a higher volume of pass-through certificates and investor-sponsored deals, according to Kroll Bond Rating Agency.
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Hewlett Packard Enterprise is readying its second securitization backed by loans and leases secured by IT equipment. Boosted by scarcity value, sources expect the small ticket equipment to offer better value than all other equipment asset classes this year.
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Solar finance company Sunnova priced the first solar securitization of 2020, a $313.5m dual tranche offering, on Wednesday.
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Marketplace loan ABS investors are looking at point of sale lending as a potential growth area, as more consumers opt for financing at the checkout counter to avoid boosting credit card balances.
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Investors are looking for more yield on aircraft ABS paper as fear over the coronavirus intensifies globally. With Asia taking up a bigger share of global air travel than during the SARS outbreak in 2003, investors expect the coronavirus to have a bigger impact on the market.
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The strong conditions in the sterling denominated securitization markets continued this week, with Close Brothers’ Orbita 2020-1 auto ABS priced on Tuesday and Cerberus’s Towd Point Mortgage Funding 2020-Auburn 14 on Wednesday. Both deals saw large oversubscription levels on the relatively limited volume of bonds available, following the precedent set by the RMBS deals that were priced in January.
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Consumer ABS research analyst John McElravey has left Wells Fargo after 13 years with the bank, according to a company spokesperson. McElravey most recently served as the managing director and the head of consumer ABS research.
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Sallie Mae is preparing to sell a private student loan ABS deal, shortly after it announced plans to sell a portfolio of private student loans to fund a share buyback program.
