[channin19]

http://www.equipmentfa.com/news/3158...ation-facility

The MCA provider was not disclosed.

[Chambo]

sounds like AFS....

[isaacdstern]

Its really crazy how much money is pouring into MCA these days...u literally hear about another huge deal every other day

[jbrown]

PFSC is the back-up servicer for the On Deck securitization. This is probably just PFSC's announcement of that arrangement, not a different deal.

[Al1]

The interest rates on the notes were a lot lower than I had expected, 3.15% for A and 5.68% for B. But I guess if you can package a portfolio right and dress it up real nice, mainstream investors will jump at the chance to get a return of anything over 1% these days.

[Sean Cash]

PFSC is the back-up servicer for the On Deck securitization. This is probably just PFSC's announcement of that arrangement, not a different deal.

Food for thought about PFSC being a "Backup and Successor Servicer". I've asked a few people in this industry that syndicate on deals with various funders about what would happen if those funders went bankrupt. Who would service their portfolios? They didn't know the answer.

First thing you should ask a funder before syndicating is, "what happens if your company goes bankrupt?"

[JayBallentine]

Food for thought about PFSC being a "Backup and Successor Servicer". I've asked a few people in this industry that syndicate on deals with various funders about what would happen if those funders went bankrupt. Who would service their portfolios? They didn't know the answer.

First thing you should ask a funder before syndicating is, "what happens if your company goes bankrupt?"

If you were to ask Strategic (Colonial Funding) this precise question - they'll give you proof that they have pre-emptively gone to the mat for their syndicate partners. To put that in perspective, they had banks custom tailor solutions because the boilerplate was completely unacceptable to them.

In short, from what I understand (I could be wrong) if Strategic goes belly up - you still get your splits.