ABS Issuances, by the Numbers Seven securitizations totaling $4.3 billion closed in Q1 2018, up 34% versus a year ago and representing the second-highest issuance in any quarter (after Q4 2017). Q1 issuances comprised $2.1 billion in student loan ABS, more than double Q1 2017 and the highest ever quarterly issuance of student deals. Total ABS issuance is expected to climb to $18 billion in 2018,...
Originations and Issuances, by the Numbers Student loan debt rose to $1.52 trillion in Q1 2018, up from $1.44 trillion a year earlier, and now accounts for 10.7% of the $13.21 trillion in total household debt, based on Federal Reserve Board of Governors and Federal Reserve Bank of New York data.
Joseph Cioffi was quoted in an Auto Finance News article, “Ballooning Losses at Honor Finance Spark KBRA Downgrade Warning.”
Joseph Cioffi contributed to a Blueshift Research report, “Undisciplined Nonbank Subprime Auto Lenders Still at Risk.”
Last week, Joseph Cioffi was a featured speaker at the iiBig 10th Annual Education Finance & Loan Symposium in Alexandria, Virginia. He participated in a panel regarding the latest trends and issues impacting collections and also moderated a panel on valuation and trends in student loan securitizations. Below, he shares key takeaways from the conference and shares insights from his fellow...
Usury has made quite a comeback from the dust heap of old law treatises to become a crucial concept that has shaped modern credit markets. It recently returned to public awareness in marketplace lending, where online lenders have avoided making loans in states comprising the Second Circuit, such as New York, due to an unfavorable usury decision. Now, light has been shed on subprime auto financing...
Joseph Cioffi discusses the heavyweight fight brewing between federal and state authorities over whose rules should govern the servicing of student loans in his latest article published in Law360. In “Federal Vs. State: The Fight To Regulate Student Loans,” the authors note that the battle appears headed for the courts, where the outcome will likely depend upon judicial interpretation of the...
