Monetizing Mobility: Legal Issues and Structuring Considerations in Securitizing Motor Vehicle Loans and Leases

Topics:
Commercial Lending,
Credit Management,
Insurance
Tags:
Asset,
Asset Management,
Bankruptcy,
Business Operations,
Goodwin Procter,
Litigation,
Mobility,
Operational Planning
Source:
Goodwin Procter

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Overview: A securitization transaction generally involves a credit institution selling loans to a Special Purpose Vehicle (SPV) that has been expressly set up for a particular transaction or for several similar transactions. The SPV then funds its holdings by issuing asset-backed securities. The securities are backed by and paid from those assets. If the SPV is established in a bankruptcy-remote manner and if the transfer satisfies the requirements for a "True Sale"; then the assets can be presumptively removed from the bankruptcy estate of the originator of the assets. This paper provides a brief overview of the origination process for automotive loans and leases in order to provide some understanding of the asset class.

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Format: PDF | Size: 300KB | Date: Feb 2005 | Pages: 23

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