Joshua Quoted in Asset-Backed Alert on Impact of New Louisiana Law on Student Loans

La. Adds Regs For Private Lenders
– Asset-Back Alert

Manatt Financial Services Special Counsel Jonathan Joshua was quoted in an article by Asset-Backed Alert on a new law in Louisiana that would affect student loans available for securitization.  

Joshua explained that the law’s mandate that private education lenders register with the state likely won’t deter lenders because they likely already have to register numerous other licenses. “What is likely to be problematic, however, is that registration appears to be required of any subsequent assignees of these student loans, thus, to the extent not otherwise exempt, companies that purchase student loans in these states may need to register and will have ongoing reporting requirements,” he said. “These finance sources may hesitate to commit to having their information publicly available via the registry or to incur ongoing reporting requirements.” 

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