After a lapse at the beginning of the pandemic, commercial PACE lending and the associated ABS offerings have grown steadily.

Most of the modest gain in bank ABS investment came from a handful of large banks buying deals backed by unsecured consumer loans, a fast-growing market. (Includes two data charts.)

At one point during the pandemic, used car prices were up 50% year over year. Now, appreciation is around 20%, prompting speculation that auto ABS performance will take a hit.

The two restaurant chains will use the ABS proceeds to largely pay down their previous deals. The Taco Bell issuance received a higher rating than Hooters.

The SFR giant is gearing up to buy thousands of newly constructed homes, which means it’s headed to the capital markets to finance the maneuver.

Mortgage securitizations from Freedom Mortgage and New Residential Investment are backed by servicing fees, while Rapid Financial Services is peddling its first small-business ABS since 2018.

During a Capitol Hill hearing, House Democrats focused on credit rating shortcomings that allowed for the subprime crisis of 2007-2008 and inadequate reforms that followed.

Asian auto ABS issuers fare better on greenhouse gas scores because they have relatively lower truck/SUV concentrations than U.S. companies, according to KBRA.

There was no monster ABS in the second quarter that could match a $10 billion airline transaction in the previous period, but year-to-date issuance was well ahead of last year's pace. (Includes two data charts.)

One of the five draft bills proposed by the House Democrats this week seeks to establish a board that would be responsible for assigning rating services to provide grades on MBS and ABS.