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      "text": "Ford Credit has been leasing vehicles since 1975 and securitizing its lease contracts since 1995\nFord Credit's current lease securitization platform was established in 2006, and more than 40 lease securitization transactions have been completed\nFord Credit has offered lease asset-backed securities through various channels:\nPublicly-registered transactions\nRule 144A transactions\nOther private transactions\nCollateral composition has trended in line with the industry and Ford Credit's strategy – we securitize what we originate\nStructural elements, such as priority of payments, have remained consistent over time",
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