ABS

Renovate America launches $268 million of bonds backed by Property Clean Energy Assessements; Calibur Home Loans returns with non-prime RMBS, and three more collateralized loan obligations refinance.

Dell and Ascentium launched a pair of equipment lease securitizations; NextGear readies notes backed by auto dealer inventory financing; Consumer Portfolio Services closes on auto ABS.

Two PACE program administrators, Ygrene Energy and Renew Financial, picked the same day to launch their first securitizations of the year.

Massachusetts Mutual Life Insurance is marketing an unusually large offering of bonds backed by equipment loans and leases.

Air Lease Corp. is making its first trip of the year to the securitization market with $344.7 million of notes backed by leases on older aircraft.

Fintech companies can help consumers and small businesses obtain credit at lower costs, but it is critical to ensure that these innovative companies do not harm borrowers with predatory or discriminatory lending practices.

A new Republican plan to streamline Dodd-Frank's capital rules, stress tests and many other requirements will be reintroduced in the coming weeks by House Financial Services Committee Chairman Jeb Hensarling.

Hertz Fleet Lease Funding has filed plans to issue a $300 million securitization backed by corporate auto and light-truck open-end leases.

Elevate Credit in Fort Worth, Texas, debuted Thursday at half the price the company had been targeting. Investors may have been spooked by the possibility of rising losses.

Three Republican senators introduced a bill this week designed to deter predatory lending practices associated with the financing and installation of energy and water efficiency upgrades.

Citigroup is underwriting two more Class A bond-issuances totaling $500 million backed by its consumer credit-card receivables, according to a presale report from Fitch Ratings.

Coordinators of a financial-industry backed blockchain project say they have successfully demonstrated that the distributed ledger technology can be used to syndication, trade and make payments on leveraged loans.

TAL International is marketing its first container securitization of the year, according to S&P Global.

SBA Communications, one of the largest wireless cell tower operators in the Western hemisphere, is planning a $760 million offering of asset-backed securities.

Hilton Grand Vacations plans a debut $145 million timeshare loan securitization of loans targeting primarily Japanese tourists for a newly opened resort in Honolulu.

Westgate Resorts is readying $175 million of notes backed by timeshare loans, according to DBRS.

California is hoping investors will pony up for new bonds backed by the payments it receives under the 1998 Master Settlement with tobacco manufacturers.

In a report published Monday, Fitch Ratings noted that a timeshare loan securitization Marriott completed in 2012 has not experienced a net loss to date -- but only because the company is repurchasing bad loans.

The real problem with missed PACE payments at Renovate America is what they might signal about underwriting - and the fact that rating agencies were not in a position to spot them.