Space Coast Credit Union's first securitization, composed of prime auto loans, should perform well compared to its competitors, according to rating services.
The new ABS, comprised of prime auto loans, is a portion of a security Ally privately issued in March. Ratings firms said the deal had a weaker pool composition than previous Ally securitizations.
Members of the National Association of Insurance Commissioners defended NAIC’s plan to allow state insurance commissioners to overrule the ratings assigned to MBS and ABS held by insurance companies.
DBRS issued a new methodology to assess ABS issuance of loans tied to fine art and collectibles. There’s a growing interest in fine art lending among borrowers, lenders and potentially ABS investors.