Space Coast Credit Union's first securitization, composed of prime auto loans, should perform well compared to its competitors, according to rating services.
The new ABS, comprised of prime auto loans, is a portion of a security Ally privately issued in March. Ratings firms said the deal had a weaker pool composition than previous Ally securitizations.
The Department of Energy is providing a 90% guarantee on loans in an ABS from Sunnova Energy. The loans are part of DOE’s new solar program, Project Hestia.
Loans in a new ABS from Cross River Bank were originated in partnership with Upstart Network. Partnerships with banks provide interest-rate preemption to many nonbank lenders.
DBRS issued a new methodology to assess ABS issuance of loans tied to fine art and collectibles. There’s a growing interest in fine art lending among borrowers, lenders and potentially ABS investors.
The federal government’s new income-driven repayment plan, introduced after the Supreme Court decision, should drive prepayments higher to the benefit of seasoned deals, rating services said.
The first prime auto loan ABS from Volkswagen since late 2021 was upsized this week. And GLS offered its first near-prime auto ABS, expanding on subprime offerings.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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