“The $604 million issue from consumer lender Springleaf Financial, the former American General Finance, will bundle together about $662 million of loans secured by assets such as cars, boats, furniture and jewelry into ABS, according to a term sheet. Some loans have no collateral. Personal loans haven’t been a part of the mainstream ABS market since securitizations from Conseco Finance Corp. in the late 1990s, according to Michael Dean, co-head of Fitch Ratings’ ABS group. That market dried up as the recession hit and, under the weight of bad subprime loans, Conseco filed for bankruptcy in 2002.”
Related posts:
Post Office Funding Is Not About Preserving Mail
Recruited by Al-Qaeda: Foreign fighters in a Damascus jail tell their stories
UK doctors given bonuses for placing patients on ‘death lists’
ANZ opens Gold vault in Singapore
Adam Kokesh Charged With Felony Assault On An Officer, Held Without Bail
Dozens of NSA employees used surveillance system to spy on lovers
The French National Sport Is Taxation, not Soccer
After DNS change fails, Turkish gov. steps up Twitter censorship
What’s It Like to Work for the New York FED?
3D printers akin to the Gutenberg press?
Cops Go Undercover at High School to Bust Special-Needs Kid for Pot
AIPAC comes out for strike on Syria, mentions Iran more often than Syria
Bitcoin Destroys Banking Leeches
Which Countries Are Most at Risk from Internet Disconnection
NSA Sent Undercover Agents to Spy on 'World of Warcraft'