The company recently closed its first rated securitization of the year backed by home equity investments.

Delinquencies on auto loan ABS are increasing, with additional hikes expected, particularly for subprime deals.

S&P has seen several proposals for ABS similar to the $188 million deal Ledn issued in February tied to loans secured by bitcoin holdings.

SEC proposes to exempt MBS, ABS from Rule 15c2-11; Amherst offering single-family rental securitization; Morningstar offers “bring your own loan” rating analysis; subprime MBS from 1999 downgraded.

The two largest bank ABS investors, TD Bank and Bank of America, accounted for virtually all of the industry’s fourth-quarter growth in non-mortgage ABS. (Includes two data tables.)

Investors are showing increased interest in securitizations of traditional home equity loans and home equity investments.

The investors claim the warehouse lenders and underwriters were aware of fraud at Tricolor, but ignored the warnings.

Kroll Bond Ratings Agency placed a 2024 transaction issued by Kobalt Music on watch for a potential downgrade because of the flagging performance of the underlying assets.

Ken Michlitsch, managing director of the alternative lending group at Morgan Stanley, said the ABS structure was designed to address the needs of both insurance clients and asset managers.

Despite some concerns tied to fraud and performance, investors are optimistic that issuance volume will increase this year.