BMW Financial Services is seeking to price a $1.45 billion bond package backed by closed-end, retail auto lease contracts. Toyota Motor Credit is making a $1.5B or $2.25B offering through its extended note platform.

The transaction has a high proportion of operating lease contracts, making up 91.2% of the pool's asset value.

Rohit Chopra, President Biden’s nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 19-25

While foreclosure moratoria keep the overall numbers down, zombie foreclosure rates jumped in the majority of states, according to Attom Data Solutions.

Shared national credit balances rose 5% last year, and the percentage of at-risk loans nearly doubled. Regulators point out that banks have stashed away extra capital, but a lot will depend on the speed of the economic recovery and the performance of nonbank loans.

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.

As the Consumer Financial Protection Bureau slowed its pursuit of bad actors, state attorneys general vowed to pick up the slack. Here’s why they fell short — and why they are poised to get aggressive again.

Servicers could be dealing with approximately 1.8 million distressed properties when the latest forbearance extension ends in June, Black Knight said.

The extension rates were the highest since the peak of lender deferrals granted in the wake of the COVID-19 outbreak.

Hildene Capital, which is pressuring CIB Marine to issue subordinated debt to redeem preferred stock, has nominated two individuals to stand for election to the company's board.

Last month, prominent investor Steve Eisman pegged Credit Acceptance Corp. as his new big short, based on a belief the subprime auto lender and its industry may come under closer CFPB scrutiny under the new administration. Analysts are taking note, as well.