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.
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.
CLO issuance has gained speed with the macro environment looking good and interest rates rising. Note: While S&P was quick to downgrade deals during the pandemic, upgrades have been slower.
Data center securitizations issued in recent years carry elevated leverage that is inconsistent with the A rating they received from rating services other than Fitch.
JPMorgan Chase Bank’s third risk-sharing deal involving auto ABS is based on a reference pool of loans with an unpaid principal balance of $3.98 billion. The loans will remain on the bank’s books.
American Airlines is the latest airline to upsize a transaction tied to its mileage rewards program. United started the trend in July and Delta followed in September.