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The residual value loss is one percentage point higher than the previously rated 2021-2 transaction, due to an increase in the notes' base residual settings.

Townstone Financial in Chicago had been accused of discriminating against certain consumers by trying to discourage them from applying for home loans. However, a judge ruled that federal law protects only actual applicants.

The structured finance specialist sees opportunities to expand the CLO investor base with the product, as the CLO-driven funds win over other sponsors.

Companies issued more than $18 billion of US dollar-denominated bonds this past week at an average concession of -1 basis point, on the back of orders that were five times the offering size.

For the current securitization the collateral pool includes 0.6% of loans extended to marginally qualified borrowers.

A core issue in the upcoming fight over late fees involves what data is being collected on card issuers' costs and losses associated with late payments.

After soured loans rose above the private student lender's expectations in 2022, its stock price fell 16% on Thursday. One analyst wrote that "persistent credit issues have damaged management's credibility."

With the addition of AIG's CLOs, Blackstone will have around $51 billion of such assets under management, just edging past Carlyle Group Inc.

Octane Receivables 2023-1 also has a greater concentration of prime receivables, at 57.09%, up from 56.06% in the OCTL 2022-2, and a lower LTV.

Underwriting league tables of asset-backed securities through February 2, 2023