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


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

Related Articles

Laurel Road’s Kaitlin Epstein Mentioned in US News and World Report’s “5 Things to Consider Before Taking Out a Zero-Interest Loan”

Stores often entice customers to make big purchases with zero-interest loans. Credit cards tout that they’re zero-interest. There are even zero-interest car loans and zero-interest student loans, although the latter is rare. What’s not to like?