JPMorgan Chase has issued its first ABS transaction backed by credit card receivables through Chase Issuance Trust since May 2018. A wildcard to the deal, however, is a pending lawsuit involving the issuance trust.

The SEC is facing pressure to address “ratings shopping” in the MBS and ABS markets. Big rating services are not keen to switch from the issuer-pays model.

The coronavirus outbreak may strike little-known pandemic bonds issued by the World Bank in 2017. Travel restrictions in response to the outbreak may also impact ABS backed by aircraft leases.

Banks will no longer have to meet extensive disclosure requirements for their MBS deals to receive investor-friendly protections. The change was met with criticism from an Obama appointee to the FDIC’s board.

There is a stark difference between Democrats and Republicans when it comes to the proposals to codify the valid-when-made doctrine.

The $122 million issuance by Oasis Financial will be backed by litigation funding and medical-lien advances related to personal injuries. The deal received a preliminary A- rating.

The SEC found numerous compliance issues when examining rating services in 2018. The report on the problems, though, was even more vague than usual.

A $175 million prime auto ABS issued by GTE Federal Credit Union in November was the first rated ABS issued by a credit union. Other deals are likely to follow thanks to revisions made by the NCUA.

As the industry moves from LIBOR to SOFR, the ARRC is seeking input on whether the spread-adjustment methodology for cash products should be consistent with what’s adopted internationally for derivatives.

To avoid retaining risk in securitization deals, mortgage lenders are joining hands with investors who act as “co-sponsors” and take on the first-loss position.