Two proposals look to reaffirm the “valid when made” doctrine, paving the way to settle legal risks facing the securitization industry.

Presidential candidate Elizabeth Warren has flagged concerns about the issuer-pays model used by credit rating agencies for securitized products. She said the SEC hasn’t done enough to address the conflicts of interest tied to the model.

For the third straight year, in 2018, marketplace lenders held the top spot in the unsecured personal lending space. Meanwhile the share of banks dropped to 28%.

S&P Global Ratings recently expressed concerns about potential legal risks around who the “true lender” is in marketplace lending ABS.

Several key issues remain unresolved as the securitization industry attempts to move away from the London Interbank Offered Rate. It’s not clear which parties should enact transitions away from the benchmark rate and, moreover, a replacement hasn’t been developed yet.