Issuers of utility recovery bonds want the SEC to treat the asset as corporate bonds. They raised concerns about a recent flip by the SEC to treat URBs as ABS, though the SEC notes that it has considered some URBs to be ABS for years.

Upgrade is getting into auto loan ABS issuance and Imprint Payments is set to issue its first credit card ABS.

The securitizations will pay off older ABS from the issuers. Rating services had largely positive things to say about the deals.

While primarily known for mortgages, Rocket has been originating consumer loans since 2016. The loans are originated in partnership with Cross River Bank, providing federal preemption of state laws.

It’s the first auto loan ABS with loans aggregated from multiple credit unions. Alloya is a corporate credit union that provides services to more than 1,300 credit unions and other entities.

Issuance of vehicle ABS is nearing another record and spreads remain tight, indicating that there’s plenty of investor demand for the asset. There are some concerns about performance, particularly for subprime auto ABS.

The securitization will retire a similar transaction that was issued a year ago. Rating services raised some concerns about changes in streaming and risks from songs generated with AI.

Ascent Funding has an offering backed by loans tied to coding classes. Morningstar has warned that ABS investors aren’t protected in the event of a bankruptcy by the borrower.

NewtekOne is boosting originations of small business loans outside of the SBA 7(a) program. The firm recently issued its second ABS of the loans, offering strong yields for issuers and investors.

Cogent Communications is using 13 million IP addresses as collateral for a novel securitization.