SoFi’s $577.5 million offering is the sponsor’s 23rd rated term student loan ABS transaction, while Massachusetts’ $164 million offering is only its second deal.

Four lenders, led by Sallie Mae, have long dominated the market for private student loans. But they could soon face new competition from Navient and Nelnet.

The captive-finance lenders will be the leading issuers of U.S. auto lease-backed securitizations in 2017 at the close of their latest deals launched this week.

Class A rated dealers, both by number and the percentage of aggregate principal balance of the trust portfolio, have decreased to the lowest level since 2012, according to Moody's.

The deal, which Fitch did not name in its report, appears to be VCO CLO 2018-1. The agency said the transaction might not even merit a single-A rating, given the high single-sector concentration.

The Federal Housing Finance Agency issued a proposal Wednesday that would require mortgage giants Fannie Mae and Freddie Mac to align their policies on cash flows for current mortgage-backed securities, and eventually for a uniform security when it is implemented next year.

The $591 million transaction is backed by fewer investment grade obligors than the sponsor's previous deal, and Fitch thinks the overall decrease in credit quality is material.

The credit quality of obligors is up from that of the sponsor's 2017 transaction, which could help offset a decline in performance seen in recent vintages.

J.P. Morgan Asset Management is not disclosing why it is retiring the $1B Palm Lane Credit Opportunities Fund; the fund was previously being considered for a spinoff.

Housing finance reform is still likely years away, but a growing chorus of lawmakers say the government guarantor has the ability to clear the path to a final plan.

Fund manager Varde Partners wants to grow its partnerships with lenders and servicers interested in selling off their excess mortgage servicing rights.

The deal, which comes just a year after the commodity trading firm's last securitization, represents 7.85% of assets in a revolving trust; it may be upsized to $500 million.