S&P warned of potential downgrades that could hit timeshare ABS if the economy slows down.

Members of the National Association of Insurance Commissioners defended NAIC’s plan to allow state insurance commissioners to overrule the ratings assigned to MBS and ABS held by insurance companies.

SFA published best practices for ESG disclosures for residential MBS and auto ABS. The association is starting with a limited number of disclosures and plans to expand the effort.

Issuance of auto ABS in the third quarter of 2023 has topped issuance from the second quarter. Issuers are seeing strong demand from investors despite rising defaults. An auto worker strike is also introducing some uncertainty.

New hires at SFA in legal, ABS; commercial MBS delinquencies tick up; VantageScore usage in ABS market increasing; Radian offers insurance-linked note; securitization of residential transition loans; Chase offers non-agency MBS tied to exceptionally old mortgages.

Bank holdings of auto ABS were up in the second quarter due to a big gain at U.S. Bank, while Ameriprise reported a sharp drop in its portfolio of commercial/industrial ABS. (Includes two data charts.)

Larger banks say federal regulators’ proposal to increase capital requirements is more stringent than international standards and came with insufficient explanations.

The market for rated private ABS has grown significantly in recent years, according to a new report from KBRA.

Pagaya has been growing its securitization capabilities as it sets its sights on partnerships with large banks.

The final rule for private fund advisers addressed many concerns of CLO market watchers around compliance burdens. Separately, a federal appeals court held that syndicated term loans aren’t securities.