“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:
Homeland Security Wants Facial Recognition To Identify Travelers
Hungary Now Imposes Tax On Non-Resident Citizens
IRS FBAR forms no longer accepted by postal mail
Google removes CyanogenMod Installer from Play Store
‘Paradigm shift’: Bitcoin to replace ‘broken’ government currencies?
Administrative Bloat in US Public Schools
Slovenia 'Clarifies' Position on Cryptocurrency Tax
Hapifork 'smart fork' review: eat slower to eat better
Snapchat admits to sharing photos with the cops
Illinois Ranked Last In Personal Freedoms, New Hampshire #4
Jim Rogers: Russian/Chinese/Brazil currency can battle dollar dominance
DEA's Move to Restrict Opioid Prescriptions Pushed Users to the Dark Web
San Francisco bacon restaurant forced to close over smell
50 unmarked graves found on segregated reform school campus in Florida
Glenn Greenwald: U.S. should be ‘on its knees begging’ that nothing happens to Snowden