First-of-its-kind HELOC ABS from Figure; Morningstar downgrades assessment of Torchlight Loan Services; ABS roundup.

Hefty increases in vehicle loans and business finance boosted ABS issuance to $94 billion in the first quarter, an 82% gain from the prior period. GM Financial was the top ABS issuer, while Bank of America ranked first in underwriting. (Includes three data tables.)

Litigation involving the Aloft Houston by the Galleria loan is causing ratings issues for a decade-old commercial MBS deal.

Concern is rising that auto, mobile phone and home improvement ABS could face more defaults and poorer performance due to increased tariffs.

Reps. Ann Wagner, R-MO, and Brad Sherman, D-CA, raised concerns of the securitization industry with Federal Reserve Chair Jerome Powell. They aim to influence a proposal to implement changes to capital requirements for large banks.

Switch’s CMBS is the second-largest securitization ever completed in the data center securities space.

loanDepot to issue its 11th mortgage warehouse securitization; Gray Media expands television securitization; Hooters bankruptcy could impact whole-business securitization.

Asset managers and hedge funds are taking a more active approach in ABS issuance.

Securitized loans from the Federal Family Education Loan program could receive negative credit rating marks if the Department of Education is successfully dissolved by the Trump administration.

A new securitization includes $51.8 million of real estate tax liens primarily for residential and commercial properties.