First Private Student Loan ABS to be Issued for The Year; CFPB Pressing for Repayment Options
February 28, 2013
Sallie Mae is set to issue the first ABS of the year backed by private student loans, a market that is expected to reach 2012 levels although student loans are drawing more scrutiny from the Consumer Financial Protection Bureau. Sallie’s SLM Private Education Loan Trust 2013-A will have an initial pool balance of $1.31 billion and it’s expected to receive a AAA rating, based on a presale report from Standard & Poor’s. Some $27.1 billion in federally-backed and private student loan ABS was issued...
It will be the 11th issuance of its type by loanDepot.
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