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KBRA refutes tax-refund fears when releasing March ABS indexes

Auto Remarketing - 4/11/2019
 Kroll Bond Rating Agency (KBRA) looked to calm concerns that tax refunds and other possible turbulence would trigger significant disturbances within the auto asset backed securities market. Neither of KBRA’s indexes tracking at prime and non-prime ABS shifted substantially, as severe delinquencies remained relatively stable.
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What’s Ahead for Home Equity Conversion Mortgage Volume?

M Report - 4/5/2019
Home Equity Conversion Mortgage (HECM) endorsements dropped by 35.7 percent in March 2019, down to 2,573 loans. In their report, Reverse Mortgage Insight (RMI) stated “That is certainly a lot, but is actually very close to the average for December through February we discussed last month as a way of reducing the noise of the government shutdown shifting volume between those months. Now that we finally have a clean month it looks like the last five months on average have all been right around this month’s level.”
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GECAS vehicle to issue $474m ABS

Airfinance Journal - 4/3/2019
GECAS vehicle STARR II is issuing a three-tranche $474 million asset-backed securitisation (ABS) covering a portfolio of 20 aircraft. The $382 million Series A notes have an initial loan-to-value (LTV) of 64.9%. The $69 million Series B and $23 million Series C notes have LTVs of 76.6% and 80.5%, respectively. The A and B notes amortise on a 14-year straight-line schedule and the C notes amortise on a seven-year straight-line schedule. Legal final maturity is 25 years (2044).
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Carvana Prices Inaugural Securitization

Auto Finance News - 4/2/2019
Online used-car retailer Carvana priced its inaugural asset-backed securitization on March 27, 2019. “The transaction was squarely in line with our expectations for an inaugural deal, yielding strong proceeds and leaving a clear path toward achieving our long-term goals,” Chief Executive Ernie Garcia said in a press release.
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