The $3.4 billion whole-business securitization received a preliminary BBB rating from Kroll Bond Rating Agency.

The top three bank ABS investors reported a combined 12% decline in their holdings during the first quarter. But ABS investment was up at PNC Bank, Capital One and Radius Bank. (Includes two data tables.)

Delinquencies and losses on subprime auto ABS have been rising. Improved underwriting and inflation leveling out could help improve performance, according to industry analysts.

Computershare recently started offering trustee services for MBS. Western Alliance was named as a trustee for a CLO deal.

Four rated HEI securitizations have been issued since Morningstar DBRS began assessing the deals in October.

A proposal from FINRA to reduce the timeframe in which trades of MBS and ABS must be reported didn’t sit well with some industry participants, prompting the SEC to take a closer look at the proposal.

Cogent Communications is using 13 million IP addresses as collateral for a novel securitization.

Federal Reserve Governor Michelle Bowman highlighted issues in the proposed rule that impact MBS and ABS.

It’s been almost 20 years since the ABS market had a quarter like the first three months of 2024. Some 72 of the 114 issuers that brought deals to market in the first quarter were on the sidelines in the previous period. (Includes three data tables.)

Uncertainty about interest rate cuts has led more auto ABS issuers to consider clean-up calls.