Fitch ratings found that early-stage delinquencies and cumulative default rates for consumer ABS deals are higher following a servicer bankruptcy or originator wind-down.
In a first-of-its kind ruling, a bankruptcy court ordered a 2021 whole-business securitization from Hooters Restaurant Group to be cancelled and essentially re-issued.
The DOJ has filed charges against four former Tricolor executives for defrauding finance providers and ABS investors by double-pledging collateral and manipulating collateral characteristics.