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. Sallies SLM Private Education Loan Trust 2013-A will have an initial pool balance of $1.31 billion and its expected to receive a AAA rating, based on a presale report from Standard & Poors. Some $27.1 billion in federally-backed and private student loan ABS was issued...