Driven Brands is preparing a $175 million asset-backed securities deal that will provide investors with exposure to a relatively safe industry during the coronavirus pandemic.

With the coronavirus pandemic and several other factors pointing to increasing consumer demand for wireless data access and content, Diamond Communications’ current securitization includes a sizable acquisition account that may introduce new assets to the securitization pool.

For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.

Subprime auto ABS market participants do not see its outlook worsening significantly as a result of the pandemic, but most anticipate losses.

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

On the heels of its first CLO transaction this year, Western Asset Management is back in the market with a $355.72 million private-label RMBS offering in which a tenth of the borrowers have been granted forbearance.

Vista Point Mortgage is aggregating a collection of mostly non-conforming mortgages that it acquired from several originators.

Whatever path Fannie Mae and Freddie Mac take, the Mortgage Bankers Association would like to see them preserve many of the changes they made while in government conservatorship.

The Consumer Financial Protection Bureau plans to change the definition of what constitutes a qualified mortgage from a 43% debt-to-income limit to a price-based threshold, and further extend a temporary exemption given to Fannie Mae and Freddie Mac.

Longstanding CLO manager Western Asset Management just priced its first deal of 2020, and despite the transaction's much more conservative structure, spreads doubled from its deal a year earlier.

Sunnova Energy in Houston plans to issue $158 million in asset-backed securities (ABS), its second term ABS securitization that relies on investors trusting its solar-loan-origination acumen, rather than its loan history.