SEC is looking to revise disclosure requirements to boost issuance of publicly-registered deals. Investors see some positives in private placements, which might not be easy to replicate in the public market.

The sentiment among investors at the ABS East conference this week was overwhelmingly positive. Attendance at the event hit a record, and investor demand for MBS and ABS is expected to remain strong into 2026, buoyed by anticipated interest rate cuts by the Fed.

Fed still working toward a Treasury-only balance sheet; BlackRock, Hoplon units partner to bring in new ABS issuers; ABS East set for record attendance; CREFC adjusts plans for DC symposium.

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

Rocket is set to issue its second consumer loan ABS; Golub Capital issues rare long-duration CLO; large jumbo MBS from Chase; ratings performing as expected.

Both lenders’ inaugural deals were oversubscribed, helping to diversify the companies’ capital sources.

The rule, implemented in June, aims to prevent conflicts of interest in the ABS market. The SEC provided no-action relief in May, helping ease compliance with the rule.

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.

Economists find that the ability of fintechs to incorporate alternative data into their underwriting allows them to expand their borrower base while at the same time reducing defaults and delinquencies.