The vendor uses machine learning and artificial intelligence technology to select and purchase consumer loans from originators.

While mortgage IPOs are starting to look dicey, the debt market continues to be receptive. The latest issuer: wholesale giant UWM.

Auto-loan securitization remained the biggest ABS sector, but business-finance deals recorded the biggest third-quarter increase. Delta’s air-mile deal set the pace. (Includes two data charts.)

Delinquencies in auto securitizations increased in August, the first uptick in five months. But losses were at record low levels during the month.

Mortgage firms continue to court the debt market with note offerings. The latest deals come from loanDepot, Starwood and PennyMac Financial.

Growing student debt has exposed ABS backed by such loans to elevated risks, increasing the possibility the notes will not pay off by their final maturities.

Fitch has downgraded 37% of the airline ABS it rates. Kroll and S&P also recently conducted sweeping downgrades. The rating services said air travel isn’t expected to recover until 2023 at the earliest.

Production levels surged for agency 1-4-family MBS, non-mortgage ABS and commercial MBS from the second to the third quarter. Nonbanks continued to dominate the agency market. Includes three data charts.)

Issuance in the MBS and ABS markets seems to be humming along with tighter spreads. But industry participants warn investors should beware of over-optimism.

The ruling partially lifts the cloud surrounding a 2015 ruling over the valid-when-made doctrine, providing banks with legal arguments to defend their securitization trusts against state usury laws.