Mercedes-Benz, Nissan and Ford will market up to $3.86 billion in new prime auto-lease securitizations, adding to a pipeline that opened up with Hyundai's deal last week.

The $243 million transaction – Small Business Lending Trust 2020-A – is backed by a static pool of 1,930 loans originated and serviced by an affiliate of the U.K.-based lender.

Asset managers appear mixed on whether credit conditions on spreads and corporate defaults will worsen in 2020 – or remain at today’s benign levels. But few expect any near-term improvement.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

The Supreme Court appointed Paul Clement to represent the agency after the bureau’s current director questioned its constitutionality.

While Citi and Chase sit on the sidelines, Bank of Nova Scotia is sponsoring its fifth card securitization since 2018.

Fannie Mae is sponsoring a $1.03B CRT transaction, while Caliber Homes Loans, New Residential and Onslow Bay fill the non-QM pipeline

In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.

Macro factors point to a solid year in the securitization market but wild cards abound, many of them political.

Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.

CarMax Auto Superstores is securitizing a “slightly improved” pool of prime auto loans in its new $1.2 billion loan-backed securitization, according to S&P Global Ratings.