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Trinity Industries Leasing Co., the servicer, can make railcar dispositions during the life of the 2021-1 securitization, but the risk is offset by experience.

So far companies plan on using roughly the same number of employees as they shift from handling payment suspensions to assessing borrowers who have seen long-term declines in their incomes.

Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers

Auto and credit card securitizations benefited from more rational consumer behavior, whole CLO issuance remained strong for both new issuance and refinancing deals.

A growing number of companies like Klarna, Sezzle and Circle let consumers split large purchases into smaller transactions paid over time. But they say they need to offer more than one product to set themselves apart and build customer loyalty.

Inflation risks may warrant the Federal Reserve beginning raising interest rates next year, St. Louis Fed President James Bullard said, backing an even-earlier liftoff than penciled in by many of his colleagues.

The data also showed that more purchase loans were made to low- and moderate-income borrowers last year, but fewer refinances.

About 18.5% of borrowers in the mortgage pool were self-employed, a slightly lower level than the combined percentages for 2020 and 2021 deals.

Goldman Sachs Group and JPMorgan Chase are ditching safeguards on credit lines to CLO managers, to defend their market share as arrangers in the lucrative business.

Demand was strongest at the high end of the market, which pushed loan amounts up for the fourth straight month.