S&P Global Ratings projects prime auto loan ABS ratings to remain stable to positive in 2024, but subprime auto ABS ratings could drop.

The potential merger of the two credit card companies will result in significant consolidation in bank credit card portfolios and a new market leader.

The AAA-rated credit card ABS was issued by WF Card Issuance Trust, a de-linked credit card receivables-backed trust sponsored by Wells Fargo.

The consumer loans originated through this partnership will be acquired by Pagaya for securitization purposes.

Huntington National Bank is in the market with its first auto ABS since 2016. The bank completed a credit-risk transfer transaction in late December involving a $3.0 billion pool of auto loans.

Purchasing Power partners with employers to offer employees funds for purchases of appliances, electronics and furniture. The firm doesn’t charge interest on the loans. Instead, prices on the items are marked up.

The National Association of Insurance Commissioners is working to establish a process that would allow the regulator to alter the ratings assigned to certain MBS and ABS held by insurance companies.

Lendbuzz, which focuses on an artificial intelligence-powered platform to underwrite auto loans, closed a AAA-rated $218.7 million ABS.

Fed stays course on MBS sales; SFA close to revising data tape for prime non-agency MBS; MBS on watch for rating upgrades by Fitch; subprime auto ABS impairments rise; commercial MBS delinquencies decline; Fannie sees tighter spreads for latest CRT; Morningstar not ready to give positive commercial MBS credit for “mass timber” construction.

The $500 million deal from CU Capital Market Solutions is tied to deposit insurance from the National Credit Union Administration.