Latest news
Latest news
ABS market not the cheapest cost of financing for issuer of first ever trade in the asset class
Revival of high LTV mortgage lending is creating an opportunity for more SRT and deconsolidation transactions
Trade follows the end of a joint venture to originate loans
More articles
More articles
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FICO this month released a new credit scoring model that aims to keep tabs on the myriad new ways consumers are taking on debt, including keeping a closer eye on unsecured personal loans. Online lenders, though, say that FICO may be late to the game given the meteoric rise of marketplace lending and the use of alternative data that has been the norm among lenders for several years already. -
Hopes that insurance investors could flood back into the market for mezz tranches have been dashed, after Europe’s insurance regulator closed its feedback session on revamping Solvency II without mention of any changes to the securitization capital treatment.
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FAT Brands is close to issuing its first-ever whole business ABS secured on the blockchain. The size of the offering, which has been in the works since last September, has been increased to capitalize on the success of the franchise ABS sector in recent months, sources said.
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Kensington is bringing a non-standard UK prime RMBS from its Finsbury Square shelf as spreads on UK RMBS continue to tighten in the first weeks of 2020. Meanwhile, Close Brothers is also returning with a new Orbita Funding UK Auto ABS transaction.
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UK online lender Funding Circle priced its second US consumer ABS on Thursday, tightening spreads on the bonds compared to its inaugural deal in August of last year on the back of strong demand for short dated consumer ABS paper.
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Nationwide has unveiled a new securitization from its Silverstone master trust, against a market backdrop in sterling prime RMBS as strong as at any time since the global financial crisis. The UK building society is focused on price for the new deal, which is likely to be in three year sterling format.
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Venture capital firm Oxford Finance is issuing a $312.8m securitization backed by loans made to life sciences and healthcare companies, the largest deal from the issuer and its fastest return to market since issuing its previous deal.
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DSB Bank, the Dutch bank that failed in 2009, is considering calling and selling assets from five outstanding securitizations to pay back investors over the next two years.
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UK marketplace lender Funding Circle is readying its second US ABS deal, a larger offering than its inaugural outing last year, but one that should be eagerly snapped up by investors who say the market for consumer loans deals is red hot.
