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.

JPMorgan Chase Bank issued a new credit-risk transfer deal and FinBe brought a subprime auto ABS. The last time either issuer offered a similar transaction was in 2021.

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.

The auto loan ABS comes even as U.S. Bank scales back its auto lending and servicing.

Investors are showing a greater interest in ABS this month, following a rocky April. The recent softer tone taken by President Trump on tariffs seems like the reason.

First-of-its-kind HELOC ABS from Figure; Morningstar downgrades assessment of Torchlight Loan Services; ABS roundup.

loanDepot to issue its 11th mortgage warehouse securitization; Gray Media expands television securitization; Hooters bankruptcy could impact whole-business securitization.

A proposal from S&P would have a wide-ranging impact on ratings of commercial MBS. Fitch is also considering allowing data center ABS to carry additional leverage.

FICC proposes volatility event charge; securitization-as-a-service offering from Financely; Morningstar acquires DealX.