In the Press – Bloomberg – Darien Rowayton Bank May Sell $400m Private Student Loan ABS

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Darien Rowayton Bank May Sell $400m Private Student Loan ABS
By Matt Scully
(Bloomberg) — Private student loan ABS ~$400m slated for Sept., Darien Rowayton Bank chairman Gary Lieberman said in interview Aug. 21.

* Goldman Sachs and Morgan Stanley to manage deal
* “We thought about doing it in June, but put it off and plan
to run it after Labor Day,” he said
* Expecting BBB+ grades by Fitch, noting previous deal
received A from DBRS
* West Side Advisors (founded by Lieberman) may buy resids
* WA FICO: ~760
* DTI Ratio: ~28%
* WA Income: ~$175K
* Rates: 1.9 – 3.25%
* Originations crossed $1b in Aug. from June 2013, he said

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