Delinquencies in auto securitizations increased in August, the first uptick in five months. But losses were at record low levels during the month.

Mortgage firms continue to court the debt market with note offerings. The latest deals come from loanDepot, Starwood and PennyMac Financial.

What might the GSEs earn in the third quarter? Based on their securitization volume, it should be a ton. Just subtract the COVID hit.

Issuers of prime non-agency MBS are completing deals with mortgages originated after the market volatility of March while expanded-credit MBS continue to be stocked with older loans.

Growing student debt has exposed ABS backed by such loans to elevated risks, increasing the possibility the notes will not pay off by their final maturities.

The GSE expanded its footprint in the long-term debt market this year, issuing $165.72 billion of instruments as of Aug. 31, compared to $21.55 billion for all of 2019.

When it comes to Ginnie Mae buyouts, you need to spend money to make money. Just ask Wells Fargo.

Fitch has downgraded 37% of the airline ABS it rates. Kroll and S&P also recently conducted sweeping downgrades. The rating services said air travel isn’t expected to recover until 2023 at the earliest.

Sterling Bank has offered to buy back all non-QMs after uncovering various problems with its lending program. Between May and July, the bank repurchased loans from five MBS, taking a loss.

Freedom Mortgage isn’t likely to go public this year but it’s tapping the debt market once again. Fitch weighs in.