Four firms are currently offering whole-business ABS. Two of the deals received ratings from both KBRA and S&P, though the rating services differed in their assessments.

In a new report, the Structured Finance Association said 2021 green auto ABS deals totaled $3.5 billion and detailed how rating services weigh emissions when considering ESG factors.

The new documentation process eliminates the need for recordation and title insurance, with certain exceptions, for servicers participating in FHA’s COVID-19-related advanced loan-modification program.

Every sector of the ABS market saw substantial increases in new issuance last year. Vehicle finance securitization and business ABS remained the top asset classes, though other markets gained share. (Includes two data charts.)

SFVegas pushed back to July; commercial MBS delinquencies rise for first time in more than a year; Fannie obtains ratings for older CRTs; Verizon to issue more ABS tied to cellphone payment plans.

New Residential Investment started acquiring single-family rental properties in 2019, and now has enough holdings to complete its first securitization in the sector.

ABS issuers and investors are considering whether to use SOFR or Treasury rates as a pricing benchmark following the end of LIBOR reporting.

Fannie priced a credit-risk transfer deal linked to single-family mortgages; the SEC won’t take an enforcement action against Two Harbors; performance of consumer ABS backed by loans originated by marketplace lenders expected to decline.

Moody’s Investors Service estimates more than $22 billion of utility cost recovery charge securitizations will be issued in 2022 and 2023.

Industry participants are confident that the non-agency market can absorb some GSE mortgages that will otherwise be subject to higher fees; SFA highlights ABS LIBOR complication; Credit Suisse modifies MBS issued in 2019; New Residential set to issue single-family rental securitization.