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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\nFord Credit has offered lease asset-backed securities through various channels:\nPublicly-registered transactions (since 2011)\nRule 144A transactions (2009 – 2010)\nOther private transactions (active program since 2004)\nSince 2004, more than 45 lease securitization transactions have been completed\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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