Mortgage securitizations from Freedom Mortgage and New Residential Investment are backed by servicing fees, while Rapid Financial Services is peddling its first small-business ABS since 2018.
Asian auto ABS issuers fare better on greenhouse gas scores because they have relatively lower truck/SUV concentrations than U.S. companies, according to KBRA.
CLO issuance has gained speed with the macro environment looking good and interest rates rising. Note: While S&P was quick to downgrade deals during the pandemic, upgrades have been slower.
Data center securitizations issued in recent years carry elevated leverage that is inconsistent with the A rating they received from rating services other than Fitch.
JPMorgan Chase Bank’s third risk-sharing deal involving auto ABS is based on a reference pool of loans with an unpaid principal balance of $3.98 billion. The loans will remain on the bank’s books.
American Airlines is the latest airline to upsize a transaction tied to its mileage rewards program. United started the trend in July and Delta followed in September.
Issuance of container ABS surged in the third quarter of 2020 only to deflate in the fourth quarter. KBRA has a positive outlook for the sector despite the ongoing coronavirus.