The ABS is backed by 5,441 fixed-rate balloon loans tied to bitcoin holdings. The loans have an outstanding balance of $199.1 million. There are concerns about rising LTV ratios as the value of bitcoin drops.

In a first-of-its kind ruling, a bankruptcy court ordered a 2021 whole-business securitization from Hooters Restaurant Group to be cancelled and essentially re-issued.

WaFd Bank replacing whole-loan holdings with MBS; solar ABS on downgrade watch; dv01 expands into credit card ABS.

KBRA introduced a new ABS rating methodology for data centers and Fitch updated its ratings criteria for equipment lease and loan ABS.

Kroll Bond Rating Agency expects new ABS issuance volume to increase by 5% from 2025 to 2026.

The DOJ has filed charges against four former Tricolor executives for defrauding finance providers and ABS investors by double-pledging collateral and manipulating collateral characteristics.

Losses on auto loan ABS are near record levels. Still, there are pockets of opportunity for savvy investors.

The request came from the CRE Finance Council, the Mortgage Bankers Association and the Securities Industry and Financial Markets Association. The groups said the disclosure requirements have negatively impacted the commercial MBS market.

Rocket is set to issue its second consumer loan ABS; Golub Capital issues rare long-duration CLO; large jumbo MBS from Chase; ratings performing as expected.

Downgrades of securities issued by the subprime auto lender highlight the challenges ABS investors can experience working with loan originators who also service their own production.