Asset Securitization Report - March 2020

Test Drive

Credit unions have seized share in auto lending. It may not be long before the same happens in auto ABS.

The new group should look at protecting consumer data and how nonprime financial consumers are treated through new regulations.

CBAM Partners co-founder Don Young retells the firm's fast rise into one of the larger CLO managers, and discusses the state of the market.

A proposed change could resurrect bond buckets, but loan industry observers also point to "covered fund" changes shielding loans from a potentially disruptive court decision.

Nonbanks hold a disproportionate percentage of the worst-rated loans, but banks hold a majority of the market, and risk management safeguards are largely untested, according to an interagency report on shared national credit.

FAT Brands is proposing a whole-business securitization to ABS investors that will help its reduce its net leverage and boost its debt-service coverage ratio.

Vague criteria and potential "greenwashing" complicate sustainable investments in securitizations, new research suggests.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

With policymakers focused on ending Fannie Mae and Freddie Mac’s conservatorship, their regulator is reorganizing key units and adding staff to position itself for the long term.

FICO plans to release a new suite of scores that could reduce defaults on newly originated mortgages by 17%, but home lenders may not use it unless the government-sponsored enterprises do.

The Federal Housing Finance Agency is considering bringing back the idea of imposing stricter criteria for purchasing mortgages in areas where residential Property Assessed Clean Energy financing is available.