Financial Guarantees
Asset-Backed FinanceConsumer Finance
Consumer Finance
FSA is a leading insurer of asset-backed securities collateralized by consumer receivables. We insure both term issues and warehouse facilities for obligations backed by:
- Automobile loans
- Credit card receivables
- Consumer installment loans
- Other consumer receivables (manufactured housing loans, student loans, etc.)
Our guaranteed structures produce better economic results for issuers by achieving Triple-A ratings with less subordination than would be required for an uninsured execution. In addition, we simplify marketing and attract a broad base of investors.
We work with issuers and their advisors on single transactions as well as long-term programs tailored to their unique needs. By working with repeat issuers and gaining deeper understanding of their asset portfolios, we create programs that become more cost-effective with each successive issue. And for new asset classes, we have the experience to evaluate proposals objectively and develop appropriate structures in a timely manner.