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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In a week that has seen Hurricane Harvey wreak havoc in Texas and monsoon rains cause devastation in south Asia, insurance-linked securities and their role in rebuilding economies have come sharply into focus. -
Post-crisis financial regulations and stricter lending requirements are shaping the way millennials obtain and deal with credit, with the effects being felt in US mortgage and consumer debt markets.
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OneMain Financial sold a subprime consumer loan ABS this week, boosting the transaction size to $947.37m before pricing the bonds on Tuesday.
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A move by Ford Credit to incorporate alternative data into its underwriting process will open up opportunities for underserved borrowers. More consumer lenders should follow suit if they want to reach, and more accurately assess, a growing segment of US consumers.
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Mario Draghi’s speech at Jackson Hole last week was never going to be earth-shattering but his complete silence on the issue of tapering the bank’s various asset purchase programmes managed to frustrate the market even more than had been expected.
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European banks originated €24bn of loans to corporations across the continent in July, up from €9bn in June according to figures from the European Central Bank, with ABN Amro adding that the figure is set to increase through to 2018.
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VW Financial Services and Santander Consumer Bank have mandated UK-backed auto ABS transactions, as the market brushes off the noise about the proliferation of personal contract purchase loans (PCP) in the UK auto sector.
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Santander Consumer USA chief executive Jason Kulas departed last week to “pursue other opportunities”, the company said on Monday.
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The number of refinanced student loans backing ABS that are more than 60 days delinquent increased in the last quarter while private SLABS saw a 1.82% decline in the same period, with refinancing deferments expected to increase as lenders target undergraduate borrowers.
