Speakers on a recent dv01 panel said unemployment would be a key factor in performance moving forward. Unsecured consumer loans are demonstrating some weakness, while auto performance is normalizing.

After playing defense in 2022, investors appear to be willing to deploy capital even as the MBS and ABS markets face numerous headwinds. Attendance at this week’s SFVegas conference hit a record level.

S&P Global Ratings said that the advantages of decentralized finance securitizations, including increased transaction speeds and greater transparency, are counterbalanced by several risks in the sector. Many of the risks are inherent to the use of a blockchain, like difficulty correcting errors in registered information.

Global conflicts top of mind at SFVegas; ESG and credit risk; no housing-finance reform expected when the sun’s out; Ginnie looking to fill COO position; American Car Center’s subprime ABS under review.

Companies looking for financing that previously haven’t tapped the ABS market are seeing ABS issuance as an option due to changes in the broader financial market.

S&P has assigned AAA ratings to the latest ABS from Octane Lending. The deal is stocked with loans on various powersports vehicles, such as ATVs.

Neighborly, which offers home services through 31 brands, is in the market with its third annual whole-business ABS. The offering differs in some ways from ABS previously issued by the firm.

Spreads on auto ABS issuance are tightening and issuers are upsizing deals amid strong demand.

Fitch Ratings said the most robust subprime auto ABS issuers will probably perform well even in a downturn, but several risks lie ahead for the sector.

The Swiss bank is transferring most of its securitized products unit to a group of investors — affiliates of Apollo Global Management and PIMCO. The deal is expected to close in the first half of 2023.