Higher interest rates are contributing to elevated delinquencies in auto ABS; Kroll places ratings on 11 commercial MBS on watch for downgrade; DBRS adds asset types to rep and warrant analysis; DBRS proposes updating its ESG analysis.

After receiving intense criticism and a warning from the DOJ, S&P revised a proposal for assessing risk-based capital at insurance companies. One of the changes involves MBS and ABS.

Porsche plans a return to the ABS market after seven years and Lobel Financial issued its first ever ABS.

A Federal Deposit Insurance Corp. consent order against Cross River Bank, a partner in marketplace lending securitizations, won’t impact outstanding ratings on ABS, according to Kroll Bond Rating Agency.

Former Federal Reserve official joins SFA; delinquencies rising on credit card and student loan ABS; KBRA creates new business development role for structured finance.

Another subprime auto ABS issuer closed its dealerships last week. Back-up servicers can help to protect investors from failing issuers, though there were some complications with a recent servicing transfer.

Industry stakeholders believe Farmer Mac could face risks arising from climate change. However, the government-chartered company took issue with a proposal to amend and strengthen its capital framework.

The two biggest components in the ABS market — vehicle and business finance securitization — recorded significant gains from the fourth quarter. Overall issuance was boosted by utilities deals. (Includes two data charts.)

Private student loan refis and ABS issuance linked to the loans look poised to increase after plummeting in 2022.

Issuance of ABS backed by music royalties will continue to grow, according to KBRA. Also, streaming royalty rates, a large share of music catalog revenues, are expected to increase in coming years.