John S. Hintze

Greater market acceptance of sophisticated models and attractive pricing prompted investors to seek more of the uncorrelated risk.

Banks and Congressmen alike see U.S. regulators' version of Basel III as overly stringent for the securitization market.

Sophisticated technology enables the firm's real-time market adjustments, allowing the lender to become a top securitizer quickly since its founding in 2016.

COVID-19 largesse enabled subprime borrowers to pay down debt and boost credit scores. Then interest rates rocketed up in 2022, and new subprime auto borrowers felt the pinch.

Plain vanilla deals likely exempt, if equity is not sold to third parties

The decision narrows scope of impacted transactions and participants, to the market's relief.

The bonds are supported by overcollateralization, and new collateral was added to further diversify the pool of assets.

The market appears strongly divided, as commercial real estate presents investors with stark choices and big risk-management decisions, often differing by region and by sub-sector.

Esoteric transactions' premiums and longer durations are especially attractive, as other consumer assets are put to the test.

The SEC could crimp effective investor communications, while IOSCO seeks feedback on 12 proposed "good practices" when operating in the leveraged loan and CLO markets.