Servicing practices at credit unions, relatively new participants in the auto ABS market, differ in some ways from the industry at large.

VineBrook Homes is set to issue its first single-family rental securitization. Issuance in the sector ticked up in the third quarter after declining for more than a year.

Securitization tied to financing acquisitions of MSRs dwindled in the past year, but banks are still providing financing to nonbank MSR buyers through loans.

In 2024, limited liability companies and certain other entities will have to begin reporting beneficial ownership information to the Financial Crimes Enforcement Network. ABS issuers will generally be covered by the requirements but CLO issuers will not.

The change in course was fueled by mounting pressure from industry participants and members of Congress, among other stakeholders.

Esoteric ABS provide stronger yields than traditional ABS. In exchange, investors face greater liquidity risk and some unknowns on future performance.

A 25-member bipartisan House group has called on the SEC to revise its proposed rule on conflicts of interest in the securitization market. The lawmakers said the SEC, in making the rule, went well beyond what was required by the Dodd-Frank Act.

The new ABS, comprised of prime auto loans, is a portion of a security Ally privately issued in March. Ratings firms said the deal had a weaker pool composition than previous Ally securitizations.

Concord Music Group issued its second ABS last week. Concord CEO said issuing an ABS was complicated but worth the effort.

Attendance at the ABS East conference hit a record this week even as industry participants are anticipating a recession. Parts of the ABS market are offering investors better returns than corporate debt.