Securitized loans from the Federal Family Education Loan program could receive negative credit rating marks if the Department of Education is successfully dissolved by the Trump administration.
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.
Recurring revenue loans are primarily underwritten based on the borrower’s annual recurring revenue rather than on loan cash flows. RRL ABS issuance is expected to reach $14.3 billion this year.
The Trump administration is likely to take actions that will reduce regulation for the MBS and ABS markets. Industry participants are working to shape the actions while also staying nimble.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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