Structures
Term ABS
status: draft
A term securitization backed by a defined asset pool, usually used as permanent or takeout financing after warehouse growth.
What to watch
The benefits are scale and lower cost. The tradeoffs are fixed costs, disclosure, rating work, investor process, and less flexibility.
Referenced in 108 topics
ABF vs. traditional lending (when ABF makes sense, when it doesn't) foundations Accessing insurance capital for originators playbooks Accounts and cash management mechanics Advance rates and the borrowing base mechanics Aircraft leases asset-classes Amortization and repayment mechanics Approaching banks for warehouse capital playbooks Auto loans and leases asset-classes BNPL receivables asset-classes Bridge / fix-and-flip asset-classes Building an ABF team playbooks Building an originator pipeline playbooks Calculation agents and data agents counterparties Cash flow modeling accounting-valuation CECL and accounting considerations accounting-valuation Choosing the right structure playbooks Collateralized loan obligations (CLOs) structures Conduit and ABCP programs structures Container leases asset-classes Credit agreement and indenture documentation Credit card receivables asset-classes Deal timeline matrix appendix Distressed market playbook market-landscape Economic terms negotiation playbooks Education and vocational receivables asset-classes Entity types and tax considerations legal Equipment leases and loans asset-classes Evaluating a credit fund's ABF strategy playbooks Evaluating portfolio quality and performance playbooks Fair value hierarchy accounting-valuation Financing progression roadmap playbooks Finding capital providers market-landscape Finding legal and advisory firms market-landscape Finding service providers market-landscape Finding the right capital partner playbooks Forward flow agreements structures Healthcare receivables asset-classes Hedging and interest rate mechanics mechanics Home equity and helocs asset-classes How ABF works (5-minute overview) foundations How to benchmark your deal against the market playbooks Industry infrastructure market-landscape Insurance capital capital-sources Key participants asset-classes Legal counsel counterparties Legal opinions and third-party reports documentation Managing legal costs playbooks Managing multiple facilities playbooks Market intelligence market-landscape Market spreads guide market-landscape Marketplace lending and fintech-originated asset-classes NAV and liquidity considerations accounting-valuation Navigating the deal process playbooks Negotiation strategy playbooks Non-agency RMBS / non-QM / investor-purpose asset-classes Offering and disclosure documents documentation Ongoing portfolio management operations-lifecycle Participant directory market-landscape Participation structures structures Personal / unsecured consumer loans asset-classes Powersports (RV, marine, motorcycle) asset-classes Premium finance asset-classes Pricing and relative value accounting-valuation Pricing negotiation playbooks Primary market process market-landscape Private placement / bespoke structures structures Private placement memorandum (PPM) documentation Questions to ask your legal team playbooks Rating agencies counterparties Regulatory and compliance legal Revolving, prefunding, and reinvestment mechanics Risk retention rules legal Sample waterfall appendix Secondary market and liquidity market-landscape Selecting and working with trustees playbooks Selecting your law firm playbooks Servicer fundamentals counterparties Servicing operations operations-lifecycle Small business loans (including SBA 7(a)) asset-classes Solar / renewable energy (PACE, PPA, solar loan) asset-classes Sourcing ABF deals playbooks Sourcing capital for your portfolio playbooks Sourcing capital for your portfolio playbooks Student loans (federal and private) asset-classes Term securitization (ABS/MBS) structures The ABF ecosystem (players, roles, and how they interact) foundations The economics of ABF for originators (worked examples) playbooks The originator's readiness assessment playbooks The waterfall mechanics Timeshare receivables asset-classes Top deal process mistakes playbooks Transaction agreements documentation Transitioning between capital providers playbooks Treasury management for multi-facility originators playbooks Trigger negotiation strategies mechanics Triggers, tests, and performance events mechanics Trustees counterparties Understanding deal fees playbooks US entity types for ABF legal Valuation methodologies accounting-valuation Volcker Rule implications legal Warehouse facilities structures What capital providers care about playbooks What is negotiable by structure type playbooks Whole loan sale and forward flow strategies playbooks Whole loan sales structures Working with credit funds playbooks Your loan tape: what lenders actually look at playbooks