Securitization - US Archive

  • Castlelake ABS refi swoops lower than ever despite aviation pricing concerns

    Castlelake ABS refi swoops lower than ever despite aviation pricing concerns

    Castlelake beat its own record with a refinancing of its 2017-1R transaction, achieving the lowest coupon out of all of its deals since it debuted in the ABS market in 2014. The pricing highlighted the insatiable demand for aviation bonds, even as some voiced concerns over valuations in the esoteric ABS market overall.

  • Affirm promotes two executives following growth spurt

    Affirm promotes two executives following growth spurt

    Buy now, pay later company Affirm has appointed Geoff Kott as chief revenue officer, a newly created role. The move comes as Affirm prepares an ABS for the third time this year, establishing its foothold not only as a major player in point of sale and marketplace loan issuer securitization.

  • All aboard as market flocks to container ABS

    All aboard as market flocks to container ABS

    Container ABS are becoming a bigger presence in the securitization market, thanks to a boost in demand for cargo shipping. Investors are leaping at deals from a sector that offers higher returns than other fixed income assets, including other types of esoteric ABS.

  • Trafigura returns to ABS market after three year break

    Trafigura returns to ABS market after three year break

    Trafigura has launched its sixth securitization from its TFS programme, the largest trade receivables securitization programme in the world, marking a return to the market for the oil trader which pioneered inventory ABS.

  • Mortgage refi fee removal backed to boost RMBS market

    Mortgage refi fee removal backed to boost RMBS market

    ABS market professionals welcomed the elimination of the Federal Housing Finance Agency's adverse market refinancing fee, which will enable borrowers to refinance mortgages more cheaply. The elimination is expected to provide a boost to the housing market and, by extension, RMBS supply, sources said.

  • CFPB to 'reshape markets' as it tightens grip on consumer lenders

    CFPB to 'reshape markets' as it tightens grip on consumer lenders

    The Consumer Financial Protection Bureau is casting a wider net in terms of what it considers consumer fraud to keep in line with US president Joe Biden's pro-consumer agenda. Such aggressive consumer protection measures, if they were to increase in magnitude, might create unpredictability for secondary markets and investors, sources said.

  • Heavy traffic in auto ABS as recovery rates hit highs

    Heavy traffic in auto ABS as recovery rates hit highs

    The auto ABS market is chomping its way through a glut of deals with five priced so far this week, ranging from a prime auto loan offering from General Motors to a subprime transaction from Foursight Capital, and more to come. The deal spree comes as the recovery rates for auto ABS rose to unprecedented levels during this quarter, according to Deutsche Bank, boosting sector credit fundamentals.

  • Bundt cake franchise cooks up whole biz ABS

    Bundt cake franchise cooks up whole biz ABS

    Gourmet cake franchise Nothing Bundt Cakes is baking up a $359m securitization, the first bakery concept to come to the market since the inception of whole business ABS. The deal signals the return of innovation in the market as investors grow comfortable with purchasing highly esoteric deals.

  • Student loan provider preps ABS pooling UK, US students

    Student loan provider preps ABS pooling UK, US students

    Prodigy Finance is preparing its first rated ABS backed by private student loans made to borrowers attending European and US postgraduate programs. Sources say such a geographically diversified deal like this may be attractive for investors given that the US market faces increased loan forgiveness.

  • 'Big deal' for RMBS as Biden gets grip on FHFA

    'Big deal' for RMBS as Biden gets grip on FHFA

    The Federal Housing Finance Agency is set to take a different direction under the the presidency of Joe Biden from the one it took under Donald Trump, with a laser-like focus on affordable housing. To further the affordable housing agenda, the US's government-sponsored enterprises are expected to ramp up their volumes of RMBS issuance to boost the availability of mortgages.

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