The request came from the CRE Finance Council, the Mortgage Bankers Association and the Securities Industry and Financial Markets Association. The groups said the disclosure requirements have negatively impacted the commercial MBS market.
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.
Downgrades of securities issued by the subprime auto lender highlight the challenges ABS investors can experience working with loan originators who also service their own production.
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.
Rating services disagree over the validity of a National Association of Insurance Commissioners report that highlighted differences in private ratings based on the size of the ratings provider.
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.
DOJ sees no issues for MBS, ABS from new rule restricting foreign access to Americans’ personal data; Momnt Technologies 2023 ABS issuance facing performance issues; Redwood rebrands prime residential mortgage aggregation unit to match MBS shelf.