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.

Prices for autos and other vehicles are expected to increase due to tariffs set by the Trump administration. That will likely lead to worse performance for securitizations, according to Moody’s Ratings.

S&P downgraded its ratings of a whole-business securitization from TGI Fridays, noting that cash flows are plummeting and the deal looks likely to default by early 2025.