Consumer ABS

Worried initially that marketplace lenders might falter at the first stage of a crisis, the sector has weathered the COVID-19 storm and now projects to match 2019's record securitization deal volume.

The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.

The Georgia lenders provides financing through a platform available through 16,000 merchants nationwide, including The Home Depot.

The loans, which are not federally guaranteed, are refinancings of student-loan debt held by prime borrowers primarily with advanced medical degrees.

Liberty Lending, Upstart Network and Regional Management Corp. are looking to price bonds backed by pools of unsecured consumer loans, amid market worries about the sectors' potential challenges during the COVID-19 outbreak.

Both Moody's and DBRS Morningstar project elevated credit-loss levels for the auto lender, compared to prior deals, due to COVID-19 uncertainties

The $500 million OneMain Financial Issuance Trust 2020-2 has triple-A senior-note ratings from three agencies, even as the economic upheaval of the coronavirus pandemic has prompted particular concerns about the risks in the lender’s key market of unsecured, subprime consumer loans.

The coronavirus impact in the U.,S. alone has resulted in a 30% year-over-year decline across securitizations, CLOs and MBS.

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.

ABS participants saw markets freeze and were bracing for worse when federal aid provide a short-term respite. The question now: How much trust can anyone put in the medium-term and beyond?